Tron Price Analysis: TRX Looks To Push To $0.060 After Strong Recovery

Daily Tron TRX Price Prediction

Last Updated February 2nd 2022
3 Min Read
  • The Tron price is up by almost 2% during the ongoing session, as buyers look to push TRX past $0.060. 
  • TRX has been fairly positive over recent sessions but had ended the weekend in the red, dropping by 2.52%. 

The Tron price continued its upward trajectory after a minor blip over the weekend, as buyers returned to the market, with TRX up by nearly 2%. TRX had started the weekend on a fairly positive note, rising by 1.49% on Friday. The price continued to push higher over the weekend, rising by over 5% on Saturday before dropping back on Sunday and falling to $0.058. Monday saw TRX back in the green, rising by 0.087, before pushing above $0.060 during the ongoing session. 

Tron Price Chart Indicates TRX Could Push To $0.063 

The Tron price started the previous weekend on a fairly bearish note, dropping by over 10% on Friday and then registering a further drop on Saturday, falling by nearly 7% to $0.056. However, TRX registered a recovery, rising by 1.52% and ending the weekend at $0.057. Monday saw TRX back in the red, as the price dropped by nearly 5% to $0.055, before recovering on Tuesday, rising over 2% and moving to $0.056. Wednesday saw TRX continue to push up, as it registered a marginal increase, rising by 0.23%.

Image: TRX/USD daily

Image: TRX/USD daily chart 020222

The Tron price managed to remain in the green on Thursday, registering a marginal increase of 0.36% before rising by 1.49% and moving to $0.057 on Friday. The weekend started with the bullish sentiment persisting, as TRX rose by over 5% and moved to $0.060 on Saturday, before dropping back on Sunday, falling by 2.52% and ending the weekend at $0.058. Despite the drop on Sunday, TRX was back in the green on Monday, rising by 0.87%, before pushing to its current levels between $0.059 and $0.060.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 020222

Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.055 on the 25th. TRX continued to push higher from this level, moving past the 20-bar SMA and rising to $0.057. However, the price fell back after reaching this level and slipped back below the 20-bar SMA, falling to $0.054 on the 27th. TRX made a strong recovery from this level, pushing back above the 20-bar SMA and rising to $0.056. With the 20-bar SMA now acting as support, TRX pushed higher, rising to $0.057, then pushing past the 50-bar SMA and moving to $0.060 on the 30th. However, the price fell back after reaching this level, dropping back below the 20-bar SMA to $0.057, where the 50-bar SMA acted as support. TRX recovered from this level and pushed back above the 20-bar SMA, moving to its current level of $0.059.

We can see that the MACD and Parabolic SAR are both bullish, indicating that we could see the price push higher.

Tron Price Is Expected To Reach These Levels

The Tron price chart shows us that TRX has made a fairly positive start to the week, as the price looks to push above $0.060. If buyers can push TRX above this level, we could see the price move towards $0.063, where the 20-day SMA could act as resistance.