- The Tron price posted a marginal recovery in the ongoing session, with the price currently up by over 0.50%.
- TRX had registered a sharp drop on Wednesday, falling by over 4%.
The Tron price has recovered during the current session, but only marginally as buyers look to push the price back above $0.100. TRX had started the week in the red, with the price slipping below the 50-day SMA on Monday. The price recovered on Tuesday, as it rose to 1.68% on Tuesday, before registering a sharp fall on Wednesday, as the price slumped below $0.100 and settled at $0.098 before recovering during the current session.
Tron Price Chart Indicates TRX Could Push Above $0.100
The Tron price started the previous week on an extremely bearish note, as the price pushed up by almost 6% on Monday and settled at $0.124. However, the price fell back after reaching this level, falling by over 11% on Tuesday, dropping to $0.110. TRX pushed up on Wednesday, rising by 1.46% but fell back on Thursday, dropping by over 10%, slipping below the 20 and 50-day SMAs and settling at $0.100. On Friday, the price pushed up as TRX rose to $0.104, pushing back above the 50-day SMA despite the prevailing bearish sentiment.
Image: TRX/USD daily
After recovering on Friday, the Tron price continued to push up on Saturday, rising by 1.68% and settling at $0.105. Sunday saw TRX continue to push up, as it rose to $0.106, before turning bearish and dropping by over 5% on Monday, slipping below the 50-day SMA and settling at $0.101. Tuesday saw a slight recovery as TRX pushed up by 1.68% before it fell back on Wednesday, slipping to $0.098. The current session sees TRX making a strong recovery, with the price looking to push beyond $0.100.
We can see that the MACD is currently bearish. However, 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 dropped to $0.098 on the 19th after slipping below the 200-bar SMA. The price then rose to $0.105, but with the 200-bar SMA acting as resistance, it couldn't get past this level until the 21st, when it pushed above the 200 and 20-bar SMAs and settled at $0.109. However, the price fell back thanks to the 50-bar SMA acting as resistance, falling to $0.103, slipping below the 20 and 200-bar SMAs. With the 20-bar SMA now acting as resistance, TRX could not push past $0.104 and registered a sharp drop on the 24th, dropping to $0.097, before rising to its current level of $0.099.
We can see that the Parabolic SAR has flipped to bullish, indicating that the price could rise further during the current session.
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 TRX push past $0.100.