Tron Price Analysis: TRX Off To A Bearish Start, Slips Below $0.090

Daily Tron price Prediction

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Last Updated December 14th 2021
3 Min Read
  • The Tron price dropped to $0.088 during the ongoing session as sellers took control of the session. 
  • XRP had dropped over the weekend, as the price fell to $0.090 on Sunday. 

The Tron price has gotten off to a bearish start to the week, as the price dropped to $0.088. TRX had entered the weekend on a bearish note as well, as the price dropped by 0.86% on Friday. However, TRX recovered on Saturday, as it rose by 4.70% and settled at $0.091. Although TRX did make a positive start on Sunday, the price slipped back and eventually fell by 1.27%, dropping to $0.090 before dropping below $0.090 during the ongoing session. 

Tron Price Chart Indicates TRX Could Drop To 200-Day SMA. 

The Tron price was highly bearish over the previous weekend, as the price dropped by almost 8% on Saturday before a further drop on Sunday took it below the 200-day SMA to $0.084. However, the price recovered on Monday, rising back above the 200-day SMA and settling at $0.087. TRX continued to push up on Tuesday, rising by 2.50% and settling at $0.089, before another increase of over 3% on Wednesday took TRX to $0.092.

Image: TRX/USD daily chart 121421

Image: TRX/USD daily

After rising to $0.092 on Wednesday, the Tron price fell back on Thursday, dropping by over 4% and settling at $0.088. On Friday, the price remained in the red, falling by 0.86%, but made a strong recovery on Saturday, rising by 4.70% and settling at $0.091, as TRX made a strong start to the weekend. However, TRX was back in the red on Sunday, falling by 1.27% and dropping to $0.090. The current session sees TRX down to $0.088, as sellers look to push the price to $0.085.

We can see that the Parabolic SAR and MACD are bullish, but if the price continues to drop, we could see them flip to bearish.

Image: TRX/USD 4-hour chart 121421

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 7th when it rose to $0.087. TRX continued to push higher from this level, rising to $0.091, but could not get past this level thanks to the 50-bar SMA. TRX pushed above the 50-bar SMA on the 8th, rising to $0.093, but fell below the 20 and 50-bar SMAs and settling at $0.088. An increase to $0.092 saw the price push back above the 20 and 50-bar SMAs, but TRX was back below the two SMAs on the 11th, dropping to $0.088. TRX pushed back from this level and rose above the two SMAs on the 11th, rising to $0.091. Using the 20-bar SMA as support, TRX was able to stay at this level until the 13th, when the price dropped to its current level of $0.098.

We can see that the MACD has flipped to bearish, indicating that we could see the price drop further during the ongoing session.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX has made a fairly negative start to the week. If the price is unable to recover, we could see TRX drop to $0.085, where the 200-day SMA could prop up the price.