Tron Price Analysis: TRX Continues To Drop, Slips To $0.063

Daily Tron Price Prediction

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Last Updated January 12th 2022
3 Min Read
  • The Tron price dropped to $0.063 on Monday, dropping by nearly 4%. 
  • TRX has registered a marginal increase during the current session and is presently up by over 1%. 

The Tron price has registered a marginal increase during the current session, as it looks to reverse the prevailing bearish trend. TRX had dropped by nearly 4% on Saturday, falling to $0.065. The price recovered on Sunday, registering an increase of 1.06% and rising to $0.066. However, the price fell back in the red on Monday, falling by 3.85% to $0.063, before recovering during the ongoing session. 

Tron Price Chart Indicates TRX Could Push To $0.065 

The Tron price was extremely bearish during the previous week and had started the previous week in the same vein, dropping by 0.66% on Monday. TRX continued to drop on Tuesday, falling by nearly 2% and settling at $0.075. Wednesday saw TRX drop by nearly 6%, as sellers drove the price down to $0.071, with a marginal drop on Thursday taking the price down to $0.070.

Image: TRX/USD daily

Image: TRX/USD daily chart 011222

After dropping to $0.070 on Thursday, the Tron price continued to drop on Friday, falling to $0.068 after dropping by 3.62%. TRX remained bearish on Saturday, as the price dropped by nearly 4%, falling to $0.065. However, the price was able to recover on Sunday, rising by 1.06% and ending the weekend on a positive note. However, the price was back in the red on Monday, falling by nearly 4% and settling at $0.063 before making a marginal recovery during the ongoing session.

We can see that the MACD is currently bearish, but if TRX recovers, it could flip back to bullish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 011222

The 4-hour Tron price chart shows us that TRX had pushed to $0.71 on the 6th. The price fell back from this level, falling to $0.067 and then pushing up to $0.069 on the 8th. However, TRX could not stay at this level and fell back, dropping to $0.064. TRX was able to recover from this level, rising to $0.066 and then rising to $0.067, where the 20-bar SMA acted as resistance. As a result, the price could not get past this level and fell back, dropping to $0.062 on the 10th. The price pushed up from this level, moving to its current level of $0.064.

We can see that the MACD is currently bullish, but if the price continues to drop, we could see it flip to bearish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that it has posted a marginal recovery during the current session. If buyers are able to retain the session, we could see it push to $0.065.