Tron (TRX) and Solana (SOL) Technical Analysis: What to Expect?

Tron and Solana prices are flat-lining with a tinge of bears. A close above $40 may lift SOL/USDT towards $58. Meanwhile, TRX/USDT has support at $0.05.

Tron (TRX)

The Ethereum competitor supports the launch of DeFi dApps. TRX is its utility currency.

Past Performance of TRX

TRX prices remain in consolidation, tracking the middle BB revealing rejection of higher highs.

Still, the failure of bears to decisively push TRX prices down may suggest the end of the bear correction and possibly traders gearing for a push higher above the 20-day moving average.

Day-Ahead and what to Expect

TRX/USDT prices are bullish in the short term, confirming the double-bar bullish reversal pattern of late June 2021 complete.

Technically, every low may be a buying opportunity reading from the price chart in the daily chart, provided TRX prices float above $0.05.

TRX/USDT Technical Analysis

From a Volumes analysis, TRX is bullish.

Therefore, risk-averse traders may wait for a conclusive, high-volume close above the primary resistance line and $0.07 before loading.

On the reverse side, aggressive traders sensing opportunity could buy the dips as long as TRX/USDT prices range inside the bull bars of June 23 and 24.

In either case, the immediate buy target would be $0.17—or April 2021 highs.

Solana (SOL)

This protocol is interoperable with Ethereum and boasts of negligibly low trading fees for DeFi dApps launching. SOL is its main currency.

Past Performance of SOL

SOL prices remain in range mode, moving within a $10 zone around the 20-day moving average.

Although confidence is high, the middle BB is negatively slanting, indicating low underlying momentum.

Still, the table could quickly turn if bulls push prices above the main liquidation line at $40.

Day-Ahead and what to Expect

SOL/USDT prices remain inside the second half of May 2021 trade range from a top-down view.

Therefore, since trading volumes are comparatively low, bears might have the upper hand unless there is a sharp breakout above $40.

A dump down below $30 quashes bullish efforts, tilting price action in favor of Solana bears.

SOL/USDT Technical Analysis

Aforementioned, SOL prices are in range mode in a possible distribution—or accumulation—depending on the resulting trend direction.

Ideally, a close above $40, nullifying the double-bar bearish reversal pattern of July 7 and 8, may trigger more demand, lifting SOL/USDT towards $58.

Conversely, a dump down below $30 confirms July 8 losses. In that case, SOL bears may unload on pullbacks, targeting $23—the main support line.