Tron Price Analysis: TRX Pushes Past $0.110 As Surge Continues

Daily Tron Technical Analysis

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Last Updated November 10th 2021
3 Min Read
  • The Tron price continued its ascendency, as buyers pushed the price above 40.111 during the current session. 
  • TRX has been highly bearish since the start of the week and posted an increase of almost 5% on Monday. 

The Tron price continued to push upwards as buyers took control of the current session, pushing the price up by over 1.30% during the current session. TRX has been quite bullish since the weekend after it had dropped to $0.099 on Saturday. The price recovered from this level rose by 2.26% on Sunday and ended the weekend positively. Monday saw TRX rise to $0.110 as TRX rose by almost 5%, with buyers controlling the current session. 

Tron Price Chart Indicates TRX Inching Towards $0.115 

The Tron price has been quite bullish during recent sessions and had started the previous weekend on a bullish note, with the price rising by almost 2% on Saturday. TRX ended the weekend at $0.101 before dropping by 1.27% on Monday, as it started the week on a bearish note. Despite the bearish start, TRX surged by over 7% on Tuesday, rising to $0.107 before turning bearish and dropping to $0.105 on Wednesday. TRX remained in the red until Friday, registering a drop of 1.78% on Thursday and a further drop of 0.71% on Friday to end the day at $0.103.

Image: TRX/USD daily chart 111021

Image: TRX/USD daily

The weekend started on a bearish note for the Tron price, as TRX dropped by 0.33% on Saturday and dropped to $0.102. However, the price recovered on Sunday after reaching this level, as TRX pushed up by 2.26% and settled at $0.105. The bullish sentiment persisted as TRX started the current week on a bullish note, rising by almost 5% and moving up to $0.110. The current session sees buyers still in control, with the price up to 40.112. We can see that the Parabolic SAR and MACD are bullish, indicating that the price could further push up.

Image: TRX/USD 4-hour chart 111021

Image: TRX/USD 4-hour

Looking at the 4-hour Tron price chart, we can see that TRX had risen to $0.108 on the 3rd, before turning bearish and dropping to $0.103, where the 20-bar SMA acted as support. TRX pierced this support level and dropped to $0.102 before the price recovered and pushed up to $0.105. However, the price could not push past this level, with the 20-bar SMA now acting as resistance, and dropped to $0.100, slipping below the 50-bar SMA. After dropping to this level, TRX pushed up considerably as the price shot up to $0.107 and then to its current level of $0.112. With the Parabolic SAR and MACD still bullish, we can expect the price to push higher.

Tron Price Is Expected To Reach These Levels

The Tron price chart indicates that TRX has been extremely bullish since the start of the week, with the price posting a significant increase. If the current trend persists, then we could see TRX push towards $0.115.