Tron Price Analysis: TRX Could Drop To $0.079 During Current Session

Daily Tron Price Prediction

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Last Updated December 27th 2021
3 Min Read
  • The Tron Price registered a marginal drop during the ongoing session and is currently down by over 1%. 
  • TRX was quite bullish towards the end of the week and had risen by over 5% on Thursday. 

The Tron price has slipped below $0.080 during the current session, as sellers pushed the price to $0.079. TRX was quite bullish during the previous week and had risen by over 5% on Thursday. However, the price fell back on Friday, falling by 2.46% and settling at $0.080, before rising again on Sunday and settling at $0.081. The current session sees TRX back in the red, with the price oscillating between $0.079 and $0.080. 

Tron Price Chart Indicates Sellers In Control Of Session 

The Tron price started the previous weekend on an extremely bearish note, dropping by nearly 7% on Friday. TRX made a marginal recovery on Saturday before dropping back in the red on Sunday and ending the weekend at $0.079. TRX continued to drop on Monday, falling by over 3% and settling at $0.077, before recovering on Tuesday and settling at $0.078. Wednesday saw TRX back in the red, although the price registered only a marginal drop.

Image: TRX/USD daily

TRX/USD daily chart 122721

After registering a marginal drop on Wednesday, the Tron price made a strong recovery on Thursday, rising by over 5% and settling at $0.082. However, the price fell back into the red, dropping by 2.46% and settling at $0.080 on Friday. The weekend saw TRX start with posting a recovery on Saturday, rising to $0.081, before dropping back into the red on Sunday and settling at 0.080.

We can see that the Parabolic SAR is currently bearish, indicating that the price could drop further.

Image: TRX/USD 4-hour

TRX/USD 4-hour chart 122721

Looking at the 4-hour Tron price chart, we see that TRX dropped to $0.075 on the 20th. The price pushed up significantly from this level, rising to $0.078 and then moving past the 20-bar SMA and settling at $0.080. However, the price fell back from this level, dropping to $0.078, before rising again and pushing past the 50-bar SMA and settling at $0.082. The price fell back, dropping to $0.080, where the 20 and 50-bar SMAs acted as support. As a result of which the price rose to $0.081 before going below the 20-bar SMA and settling at its current level of $0.080.

We can see that the Parabolic SAR and MACD are both bearish, indicating that the price could drop further.

 

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX has dropped during the current session. If the current sentiment persists, we could see the price drop below $0.080.