- The Tron price registered a sharp drop of almost 8% on Saturday.
- TRX has been quite bearish over the weekend, dropping below $0.090
The Tron price has fallen significantly over the weekend, after remaining relatively static during the previous week. Friday saw a drop of almost 3%, as sellers took control of the market. The most significant drop of the weekend occurred on Saturday, as TRX fell by 7.73%, slipping below $0.90 and settling at $0.087. The current session sees TRX currently at $0.086, with sellers looking to push the price further.
Tron Price Chart Indicates TRX Could Drop To $0.085
The Tron price started the previous weekend on a fairly bearish note, as the price dropped by over 8% on Friday. Despite the bearish sentiment, the price recovered over the weekend, pushing up by 1.08% on Saturday and then by 2.12% on Sunday to end the weekend at $0.095. The positive sentiment persisted on Monday, with TRX rising to $0.097, but the price fell back on Tuesday and Wednesday after registering a marginal drop and settling at $0.096.
Image: TRX/USD daily
After dropping marginally, the Tron price pushed up on Thursday, registering a marginal increase. However, it fell back in the red on Friday, falling by almost 3% and settling at $0.094. Friday saw the price fall even further, as sellers pushed TRX down by almost 8%, as it fell below $0.090 and settled at $0.087. The current session sees TRX still in the red, with sellers looking to push the price below the support level at $0.085.
We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further.
Image: TRX/USD 4-hour
Looking at the 4-hour Tron price chart, we see that TRX dropped to $0.091 on the 26th. The price pushed up from this level, rising to $0.095, but with the 20-bar SMA now acting as resistance, the price fell back to $0.090. The price recovered after falling to $0.090, moving above the 20-bar SMA on the 29th, then pushing above the 50-bar SMA on the 30th. With the 50-bar SMA now acting as support, TRX was able to stay at this level for a few sessions before dropping below the 20 and 50-bar SMAs on the 2nd, before pushing back up to $0.100. However, the price turned bearish after reaching this level and dropped drastically, slipping below the 20 and 50-bar SMAs and settling at $0.081 before registering a marginal recovery and rising to its current level of $0.086.
We can see that the MACD is currently bearish, indicating that we could see the price drop. However, with support at $0,085, there is a chance that the price could recover. If this occurs, we could see it flip to bullish.
Tron Price Is Expected To Reach These Levels
Looking at the Tron price chart, we see that TRX has been extremely bearish over the weekend. Going by current trends, we could see TRX fall to $0.085, where the 200-day SMA could act as support and stabilize the price.