Tron Price Analysis: TRX Recovers After Staggering Drop On Tuesday

Daily Tron Price Forecast

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Last Updated November 18th 2021
3 Min Read
  • The Tron price posted a marginal recovery during the current session.
  • TRX had dropped by over 11% on Tuesday, as the price dropped to $0.110. 

The Tron price started the current session on a positive note, with the price pushing up marginally. TRX had gotten off to a highly bullish start to the current week, with the price pushing up to $0.112 on Saturday. The price pushed up further on Sunday, rising to $0.117, registering an increase of over 4%. Monday saw another increase, as TRX pushed up to $0.124 before turning bearish on Tuesday and dropping by over 11%. 

Tron Price Chart Shows Buyers Trying To Regain Control Of Current Session 

The Tron price ended the previous weekend on a bullish note, as the price rose to $0.105 on Sunday. Monday started on a positive note as well, with TRX pushing up by 4.77%, settling at $0.110. TRX continued to push up on Tuesday, rising to $0.114, before falling to $0.107 on Wednesday after registering a drop of over 6%. The price recovered on Thursday, rising to $0.108, but fell back into the red on Friday, registering a drop of 0.44%.

Image: TRX/USD daily chart 111821

Image: TRX/USD daily

The Tron price was highly bullish over the weekend, as the price pushed up by almost 4% on Saturday. Sunday saw the bullish sentiment continue as TRX rose to $0.117, registering an increase of over 4%. TRX continued to push up on Monday, starting the current week on a positive note, pushing up to $0.124. However, after reaching this level, TRX registered a sharp drop as it fell by over 11% on Tuesday, dropping to $0.110. The current session sees a marginal recovery, with buyers trying to push the price higher.

The Parabolic SAR and MACD are both bullish, indicating that the price could push up further.

Image: TRX/USD 4-hour chart 111821

Image: TRX/USD 4-hour

The 4-hour Tron price chart shows us that TRX had dropped to $0.107 on the 11th, with the price dropping below the 20-bar SMA. At this level, the 20-bar SMA acted as support, and the price pushed to $0.109. However, TRX could not push beyond this level as the 20-bar SMA was acting as resistance. The price dropped to $0.106, slipping below the 50-bar SMA but made a strong recovery, pushing above the 20 and 50-bar SMAs and settling at $0.112. TRX continued to push up from this level, rising to $0.128. However, after reaching this level, the price turned bearish and dropped to $0.113, slipping below the 20-bar SMA. TRX continued to drop after reaching this level and slipped below the 50-bar SMA, dropping to $0.107 before rising to its current level of $0.111.

The Parabolic SAR and MACD are both bearish, indicating that the price could drop further.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has recovered during the current session. If the current sentiment persists, then we could see TRX push up to $0.115.