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  • Tron Price Prediction in the short-term is bearish as accentuated by the SuperTrend indicator.
  • A session closure below the $0.0865 support level will push TRX below towards the 100 SMA.
  • A trend reversal can occur if Tron violates Monday’s high at $0.0971.

Tron price opened the day on Friday trading in the red during the early Asian trading hours. Attempts by the bulls to overcome the 50 period Simple Moving Average (SMA) at $0.09 were immediately rejected as TRX retracted towards the $0.0865 support wall as seen on the four-hour chart.

At the time of writing, Tron price teeters at $0.0874 on most crypto exchanges as bears focus on breaking below the immediate support at $0.0865.

Bullish Tron Price Sits On Strong Support

Currently, TRX investors do not have a significant reason for a buy-in particularly after flipping the 50 SMA from support to resistance on Tuesday. It almost looked like a recovery would occur as Tron had three bullish four-hour sessions at the end of trading day Thursday. But rejection by the 50 SMA at $0.0890 resistance level proved there is little to pick up from the price action.

However, below $0.0865 some technical elements favour the Tron price. First, TRX is trading above the $0.0840 support and the 100 and 200 SMAs at $0.0806 and $0.0700 respectively which turned from resistance into support following the rally that started July 21.

Second, TRX sent a bullish signal on the four-hour chart yesterday. The Moving Average Convergence Divergence (MACD) indicator presented a buy signal when the 12-day EMA must cross above the 26-day EMA. Note that the odds of a bullish bias will be heightened when the MACD crosses the neutral line into the positive zone.

Given these two solid reasons, Tron buyers might want to step into the rally.

TRX/USD Four-Hour Chart

Tron Price Four Hour Chart
Tron Price Four Hour Chart by Tradingview

A look at the day Ahead For Tron Price

Tron price prediction for the short-term is bearish as validated by the SuperTrend Indicator which changed from green to red and flipped above the price, thus sending a bearish signal on the four-hour chart Thursday morning. Note that as long as the SuperTrend moves above TRX price, the bearish leg will continue.

Tron Price Four Hour Chart
Tron Price Four Hour Chart by Tradingview

Note that if TRX closes the day below the $0.0865 support, the next key level to watch would be the 100 SMA at the $0.0806 level.

One the flipside, the key level to watch for the day ahead is the $0.090 resistance level where the 50 SMA sits. If TRX closes the session above this level, it would be an indication that the bullish leg will be re-started. The bullish momentum will be fully confirmed if Tron breaks out above Monday’s high at $0.0971.

Where to Buy TRX

If you want to trade Tron, you can do so on the following exchanges:

  • eToro
    eToro is one an FCA regulated platform with over 20 million user globally. eToro charges low trading fees and commissions.
  • FTX
    FTX is one of the largest exchange platforms that supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

Looking to buy or trade Tron now? Invest at eToro!

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