Tron Price Analysis: TRX Registers Sharp Shop, Falls To $0.070

Daily Tron Price Prediction

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Last Updated January 7th 2022
3 Min Read
  • The Tron price fell drastically on Wednesday, dropping by nearly 6% and settling at $0.071. 
  • The current session sees the price at $0.070, with buyers and sellers vying for control. 

The Tron price has started the current session in the red, currently down by over 1%, and sellers controlling the market. TRX had started the week on a bearish note, with the price dropping by 0.65% on Monday. The bearish sentiment persisted on Tuesday, as the price dropped by nearly 2% and fell to $0.075. TRX dropped by nearly 6% on Wednesday, falling to $0.071, before dropping to $0.070 during the ongoing session. 

Tron Price Chart Indicates TRX Could Drop Below $0.070 

The Tron price started the previous week at $0.081 on Monday. However, the price fell back on Tuesday, dropping by over 5% and settling at $0.077. Wednesday saw TRX continue to remain in the red, falling to $0.076, before recovering on Thursday and rising by 1.41% to $0.077. However, the price fell back in the red on Friday, dropping by over 3% and falling to $0.075.

Image: TRX/USD daily

Image: TRX/USD daily chart 010722

After dropping to $0.75 on Friday, the Tron price recovered over the weekend, pushing up by 1.45% on Saturday and then by 1.59% on Sunday to end the weekend on a positive note at $0.077. Despite the bullish weekend, TRX fell back in the red on Monday, dropping by 0.65%. TRX remained bearish on Tuesday, dropping by nearly 2% and then falling by nearly 6% on Wednesday, falling to $0.071. The current session sees TRX at $0.069, having slipped below $0.070 at the time of writing.

The MACD and Parabolic SAR are both bearish, indicating that we could see TRX drop further.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 010722

Looking at the 4-hour Tron price chart, we can see that TRX had dropped significantly on the 31st, falling to $0.074. The price recovered from this level, rising to $0.077 on the 2nd. And pushing above the 20-bar SMA. With the 20-bar SMA acting as support, TRX was able to stay at this level for the next few sessions before slipping back below the 20-bar SMA on the 4th, falling to $0.076. The price fell further from this level, dropping to $0.075 and then pushing up and rising to $0.077 on the 5th. The price fell back drastically from this level, dropping to $0.073 and then dropping to its current level of $0.069.

The MACD is currently bearish, indicating that TRX could drop further.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX had registered a sharp drop on Wednesday, with the price still in the red during the current session. If sellers retain control, we could see TRX drop below $0.070. However, if the price can stabilize at around $0.070, we could see a marginal recovery.