Tron Price Prediction: TRX Continues To Push Higher, Moves To $0.066

Daily Tron TRX Technical Analysis

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Last Updated February 8th 2022
3 Min Read
  • The Tron price continued to push higher during the ongoing session, as buyers remained in control. 
  • TRX has been relatively bullish over the weekend and had pushed up to $0.066 on Sunday. 

The Tron price continued to push higher during the ongoing session, as buyers and sellers struggled to establish control. TRX had registered a significant increase on Friday, rising by over 8%, moving above the 20-day SMA to $0.064. The price remained bullish over the weekend, rising by 0.21% on Saturday and then pushing up by nearly 2% on Sunday to end the weekend at $0.066. The current session sees TRX marginally up as buyers look to push the price to $0.066. 

Tron Price Chart Indicates TRX Could Move To 50-Day SMA 

The Tron price was quite positive heading into the previous weekend, rising by 1.49% on Friday. The price continued to push higher over the weekend, rising by over 5% on Saturday before dropping back on Sunday, falling by 2.52%, and ending the weekend at $0.058. Monday saw TRX back in the green, as the price rose by 0.87% and then rose by 1.21% on Tuesday, moving to $0.060. However, TRX fell back after reaching this level, dropping over 2% and settling at $0.058. 

Image: TRX/USD daily

Image: TRX/USD daily chart 020822

The Tron price registered a strong recovery on Thursday, rising by 2.32% and settling at $0.060. Friday saw a significant increase as TRX surged past the 20-day SMA, rising by over 8% and settling at $0.064. The weekend saw TRX remain bullish, rising by 0.21% on Saturday and nearly 2% on Sunday to end the weekend at $0.066. The current session sees TRX marginally down as buyers and sellers struggle to establish control.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 020822

Looking at the Tron price chart, we can see that TRX had pushed up to $0.059 on the 1st, pushing above the 20-bar SMA. TRX could stay at this level for the next few sessions, thanks to the 20-bar SMA now acting as support, rising to $0.060 on the 2nd. However, the price fell back after reaching this level, dropping below the 20-bar SMA and dropping to $0.058. At this level, the 50-bar SMA was acting as support, and TRX pushed up to $0.059. However, the price could push past the 20-bar SMA only on the 4th, when it surged to $0.063. TRX continued to push higher from this level, pushing above the 200-bar SMA and settling at $0.065. TRX registered a marginal increase from this level, moving to its current level of $0.066.

We can see that the Parabolic SAR and MACD have just flipped to bullish, indicating that we could see the price push higher.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX had been quite bullish over the weekend, with buyers and sellers struggling to establish control during the ongoing session. If buyers retain control, we could see XRP push to $0.068, but if sellers retake the session, TRX could drop below $0.065.