Tron Price Analysis: TRX Registers Marginal Drop After Reaching $0.097 on Monday

Daily Tron Price Prediction

By
Last Updated December 1st 2021
3 Min Read
  • The Tron price pushed up to $0.097 on Monday, rising by over 2%. 
  • The current session sees buyers and sellers struggling for control, with the price currently down to $0.096. 

The Tron price had made a strong start to the weekend, despite registering a significant drop dropping by over 8% on Friday, and settled at $0.091. TRX pushed up on Saturday, rising by 1.24% and settling at $0.093, before rising further on Sunday, registering an increase of over 2% and settling at $0.095. The bullish sentiment continued on Monday, with TRX rising to $0.097, registering an increase of 2.12%. 

Tron Price Chart Indicates Buyers And Sellers Struggling To Control Current Session

The Tron price began the previous weekend on a positive note, pushing up by 1.68% and settling at $0.105. Sunday saw the price push up further, rising to $0.106, an increase of 0.94%. However, Monday saw the price fall back by over 5%, slipping below the 50-day SMA and settling at $0.101. After a marginal recovery on Tuesday, the price fell back on Wednesday, dropping by almost 5% and settling at $0.098, before rising by 1.90% on Thursday and settling at $0.100.

Image: TRX/USD daily chart 210121

Image: TRX/USD daily

After pushing up to $0.100 on Thursday, the Tron price dropped significantly on Friday, falling by over 8% and settling at $0.091. Despite the bearish sentiment on Friday, the price pushed up over the weekend, rising by 1.24% on Saturday and by 2.19% on Sunday to end the weekend at $0.095. The price continued to push up on Monday, rising by 2.12% and settling at $0.097. The current session sees the price at $0.097, with buyers looking to push the price to $0.100.

We can see that the Parabolic SAR is currently bearish; however, if the price continues to push up, we could see it flip to bullish.

Image: TRX/USD 4-hour chart 210121

Image: TRX/USD 4-hour

The 4-hour price chart shows us that TRX had slipped below the 20 and 200-bar SMAs on the 22nd, dropping to $0.101. With the 20 and 200-bar SMAs acting as resistance at this level, the price dropped to $0.097 on the 24th before pushing to $0.101. At this level, the 20-bar SMA was acting as resistance, and TRX registered a sharp drop to $0.091 on the 26th. TRX rose to $0.094 on the 28th but could not move past the 20-bar SMA and dropped to $0.090. TRX made a strong recovery from this level, as the price pushed beyond the 20-bar SMA and pushed up to its current level of $0.096.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that buyers and sellers struggle to control the current session. If sellers take control, we could see TRX drop to $0.090; however, if buyers take control, then TRX could push up to $0.100.