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Tron Price Analysis: TRX/USD bulls aim for the $0.02-level

  • TRX/USD bulls push price above the 20-day Bollinger Band.
  • The RSI has dipped into the overbought zone.
Tron Price Analysis: TRX/USD bulls aim for the $0.02-level
Rajarshi MitraRajarshi MitraIndependent Analyst

TRX/USD daily chart

TRX/USD daily chart

TRX/USD bulls took charge of the market and spiked the price up from $0.019188 to $0.01971. The price is currently trending in an upward channel formation and managed to peak above the 20-day Bollinger Band. The MACD shows increasing bullish momentum, while the RSI has dipped into the overbought zone, indicating that the asset is presently overvalued. As such, an upcoming bearish correction can be expected. TRX/USD has strong support at $0.019188, $0.018595, $0.01815 (SMA 20) and $0.01724 (SMA 50).
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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