Tron Price Analysis: TRX Looks To Push To $0.070, Move Past 20-Day SMA

Daily Tron TRX Price Prediction

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Last Updated January 20th 2022
3 Min Read
  • The Tron price has registered a marginal increase during the ongoing session. 
  • TRX had pushed up to $0.070 on Monday but failed to get past the 20-day SMA. 

The Tron price is currently up by over 2%, as buyers look to push the price to $0.070 and beyond. TRX had ended the weekend on a fairly positive note, rising by nearly 2% and settling at $0.069. The price continued to push higher on Monday as the week started on a positive note but fell back on Tuesday, dropping over 3% to $0.068, thanks to the 20-day SMA coming into play as resistance. 

Tron Price Chart Indicates Buyers And Sellers Struggling To Control Session

The Tron price started the previous week on a bearish note, dropping by almost 4% on Monday. TRX recovered on Tuesday, rising by 2.15% and moving to $0.064, and then pushed up by 5.50% on Wednesday, rising to $0.068. However, the price fell back on Thursday, dropping over 3% and settling at $0.066, before recovering on Friday and settling at $0.067.

Image: TRX/USD daily

Image: TRX/USD daily chart 012022

The Tron price remained bullish over the weekend, as it rose by 1.48% on Saturday and then pushed up by almost 2% on Sunday, rising to $0.069. The current week started with TRX remaining in the green, rising by 1% and pushing to $0.070, but the 20-day SMA came into play as resistance at this level, and the price fell back on Tuesday, dropping over 3% and settling at $0.068. The current session sees the price marginally up, as buyers look to push the price towards $0.070.

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

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 012022

The 4-hour Tron price chart shows us that TRX had dropped to $0.066 on the 14th. The price pushed back up from this level, pushing above the 50-bar SMA and rising to $0.068. With the 20-bar SMA now acting as support, the price pushed back up from this level, rising to $0.069 on the 15th and then pushing up to $0.070 on the 16th. TRX registered a marginal drop from this level before pushing back up and rising to $0.071. However, the price fell back after reaching this level, dropping to $0.069 and then slipping below the 20-bar SMA on the 18th and the 50-bar SMA on the 19th, dropping to $0.066. The price recovered from this level, pushing above the 50-bar SMA and moving to its current level of $0.068.

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

Tron Price Is Expected To Reach These Levels

The Tron price chart shows that TRX has registered a marginal increase during the ongoing session. If the current sentiment persists, we could see TRX push to $0.070. However, if sellers retake the session, we could see the price drop to $0.065.