Tron Price Analysis: TRX Looks To Push Back Above $0.080 As Buyers Look To Establish Control

• The Tron price dropped on Monday, falling by almost 2%. 

• The current session sees buyers and sellers vying for control, with the price currently in the red. 

Despite a bearish start to the current week, the Tron price is looking to push back above the $0.080 level during the ongoing session. TRX was quite bearish going into the weekend, dropping by almost 7%. However, the price made a marginal recovery on Saturday, rising by 0.91%, but fell back into the red on Sunday, registering a marginal drop of 0.37%. The current week saw the bearish sentiment continue, as the price fell by over 3% on Monday and dropped to $0.077. 

Tron Price Chart Indicates Buyers Looking To Push TRX Back To $0.080 

The Tron price was quite bullish over the previous weekend, rising by 4.53% on Saturday. However, the price fell back into the red on Sunday, dropping by 1.23% and settling at $0.090. The price continued to drop on Monday, falling by nearly 7%, slipping below the 200-day SMA and settling at $0.084. Despite the bearish start to the week, TRX recovered on Tuesday, rising back above the 200-day SMA and settling at $0.087. Wednesday saw the price continue to push higher, rising by 1.07% and settling at $0.088.

Image: TRX/USD daily

On Thursday, the Tron price fell back in the red, dropping by over 3%, slipping back below the 200-day SMA, and settling at $0.085. The price continued to drop on Friday, falling by almost 7% and settling at $0.079. However, the weekend saw TRX recover, rising by 0.91% and settling at $0.080 on Saturday, before falling back on Sunday and dropping to $0.079. The price continued to drop on Monday, falling by over 3% and settling at $0.077, before recovering during the current session and pushing up to $0.078.

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

Image: TRX/USD 4-hour

Looking at the 4-hour Tron price chart, we can see that TRX had pushed above the 20-bar SMA on the 15th, rising to $0.088. TRX was able to stay at this level for the next few sessions, thanks to the 20-bar SMA acting as support, before dropping below the SMA and falling to $0.079 on the 18th. TRX rose to $0.081 from this level and then dropped to $0.080 before taking a significantly bearish turn and dropping to $0.075, and then rising to its current level of $0.078.

We can see that the MACD has flipped to bullish, indicating that we could see the price recover from this level.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has made a strong recovery during the current session. If the current sentiment persists, we could see the price rise to $0.080.