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Tron Price Analysis: TRX/USD jumps into overbought zone

  • RSI has dipped into the overbought zone, indicating that TRX/USD is overvalued.
  • The MACD shows increasing bullish momentum.
Tron Price Analysis: TRX/USD jumps into overbought zone
Rajarshi MitraRajarshi MitraIndependent Analyst

TRX/USD daily chart

TRX/USD daily chart

TRX/USD bulls retained control of the market for the third straight day as the price went up from $0.01928 to $0.01951. In the process, the price jumped above the 20-day Bollinger jaw upper band. The RSI has also crept into the overbought zone, indicating that the price is currently overvalued and may face bearish correction soon. The MACD shows increasing bullish momentum.

TRX/USD has healthy support levels at $0.0185, $0.0181 and $0.01897 (SMA 20).

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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