Tron Price Analysis: TRX Pushes Up To $0.087, Registers Marginal Drop

Daily Tron Price Prediction

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Last Updated December 17th 2021
3 Min Read
  • The Tron price has registered a marginal drop during the ongoing session. 
  • TRX had pushed up to $0.087 on Wednesday, registering a marginal increase of 1.03% on Wednesday. 

The Tron price registered a marginal drop, as sellers look to push the price down to $0.085. TRX has started the week on an extremely bearish note, registering a drop of almost 7%, slipping below the 200-day SMA, and settling at $0.084. On Tuesday, the price recovered, rising by almost 3% and pushing back above the 200-day SMA. The price continued to push up on Wednesday, rising by 1.03%, before dropping during the ongoing session. 

Tron Price Chart Indicates TRX Could Drop To $0.085 

The Tron price was quite bullish at the start of the previous week, rising by over 4% on Monday. Tuesday saw TRX continue to push higher as the price rose by 2.51% to $0.089. TRX pushed up further on Wednesday, rising by over 3% and settling at $0.092. However, TRX fell back after reaching this level, dropping by over 4% on Thursday. Friday saw TRX continue to drop, falling by 1.02% and settling at $0.087.

Image: TRX/USD daily chart 121721

Image: TRX/USD daily

The Tron price recovered over the weekend, as it rose by almost 5% on Saturday, before dropping back on Sunday and settling at $0.090. Monday saw the price continue to fall, as TRX dropped by almost 7% and settled at $0.084, slipping below the 200-day SMA. However, the price recovered on Tuesday, pushing back above the 200-day SMA and settling at $0.087. After registering a marginal increase on Wednesday, TRX fell back during the ongoing session and is currently down to $0.086.

We can see that the Parabolic SAR is currently bullish, indicating that we could see the price drop further.

Image: TRX/USD 4-hour chart 121721

Image: TRX/USD 4-hour

Looking at the Tron price chart, we can see that TRX had pushed above the 50 and 200-bar SMAs on the 11th when the price rose to $0.091. With the 20-bar SMA acting as support, TRX was able to stay at this level until the 13th, when it slipped below the 20 and 50-bar SMAs and settled at $0.084 on the 14th. TRX pushed up from this level, as it rose to $0.087 but could not move past the 20-bar SMA and dropped to $0.083 on the 15th. The price then pushed up significantly from this level, moving above the 20-bar SMA and settling at its current level of $0.086.

We can see that the MACD is bullish, but if the price continues to drop, we could see it flip back to bearish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX has dropped during the current session. If the current sentiment persists, we could see TRX drop to $0.085.