- The Tron price is currently down by over 2% during the ongoing session.
- TRX was hoping for a sustained recovery after it had pushed up to $0.056 on Wednesday but has dropped back during the ongoing session.
The Tron price slipped to $0.055 during the ongoing session as sellers pushed TRX down marginally, dampening hopes of a sustained recovery. TRX had started the week in the red, dropping by 4.56% to $0.055. However, the price was able to recover on Tuesday, rising by 2.08% and then by 0.25% on Wednesday to settle at $0.056. The current session sees TRX marginally down, as sellers look to push the price below $0.055.
Tron Price Chart Indicates TRX Could Slip Below $0.055
The Tron price started the previous week on a fairly positive note, rising by 1% on Monday. However, the 20-day SMA came into play as resistance at this level, and TRX fell back, dropping by 3.28% to $0.068 on Tuesday. TRX recovered on Wednesday, rising by 1.44% before dropping back on Thursday and falling to $0.067. Friday saw TRX register a significant drop, as the price fell over 10% and settled at $0.060. TRX continued to drop over the weekend, as it slipped below $0.060 on Saturday and settled at $0.056.
Image: TRX/USD daily
Despite the bearish sentiment, the Tron price was able to register a recovery on Sunday, rising by 1.52% and settling at $0.057. However, TRX was back in the red on Monday, dropping by nearly 5% to $0.055, before recovering on Tuesday and registering an increase of just over 2%, moving to $0.056. On Wednesday, the price registered a marginal increase before dropping back during the ongoing session, slipping to $0.055.
We can see that the MACD is currently bearish, indicating that we could see the price drop further.
Image: TRX/USD 4-hour
Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.071 on the 20th, moving above the 20-bar SMA. TRX could not stay at this level and fell back from this level, slipping below the 20 and 50-bar SMA to $0.065. TRX continued to drop from this level and fell to $0.054 on the 22nd. The price pushed back from this level, rising to $0.058, before dropping back to $0.055 and then falling to $0.052 on the 24th. TRX was able to make a strong recovery from this level, rising above the 20-bar SMA and moving to $0.057. However, the price fell back after reaching this level, slipping below the 20-bar SMA and moving to its current level of $0.055.
We can see that the MACD and Parabolic SAR are both currently bullish, indicating that we could see the price recover.
Tron Price Is Expected To Reach These Levels
The Tron price chart shows that TRX has registered a drop during the ongoing session. If sellers manage to retain the session, we could see TRX drop below $0.055, but if the price recovers, we could see the price push back to $0.056.