Tron Price Prediction: TRX Drops After Hitting $0.070

Daily Tron TRX Technical Analysis

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Last Updated February 11th 2022
2 Min Read
  • The Tron price is currently down by over 1% as sellers pushed the price down after it pushed to $0.070. 
  • TRX has been relatively bullish in recent sessions and had surged to $0.070 on Wednesday. 

The Tron price fell back in the red as sellers returned to the market, pushing the price down by just over 1% during the ongoing session. TRX had started the week on a fairly positive note, rising by over 3% and pushing above the 50-day SMA. On Tuesday, the price fell back but made a fairly strong recovery on Wednesday, rising by 2.54% and moving to $0.070. The current session sees TRX back in the red as sellers look to push the price down. 

Tron Price Chart Indicates Buyers And Sellers Struggling To Take Control 

The Tron price started the previous week on a fairly positive note, registering a marginal increase on Monday and then pushing up by 1.21% on Tuesday and settling at $0.060. The price fell back on Wednesday, dropping by over 2%, before recovering on Thursday, rising by 2.32% and moving back to $0.060. Friday saw TRX surge by over 8%, pushing past the 20-day SMA and rising to $0.064. TRX continued to push up over the weekend, registering a marginal increase on Saturday and moving to $0.065.

Image: TRX/USD daily

Image: TRX/USD daily chart 021122

The Tron price continued to push higher on Sunday, as it rose by nearly 2%, ending the weekend at $0.066. Monday saw TRX register another increase, as the price pushed up to $0.068, before registering a marginal drop on Tuesday. TRX recovered on Wednesday, rising by 2.54% to $0.070, before dropping back during the ongoing session.

We can see that MACD is currently bullish, but if the price continues to drop, we could see it flip to bearish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 021122

Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.063 on the 4th. The price continued to move higher from this level, pushing past the 200-bar SMA and rising to $0.066 on the 5th. The price fell back from this level, registering a marginal drop, before making a strong recovery and rising to $0.070 on the 8th. The price fell back from this level, dropping to $0.067, where the 20-bar SMA was acting as support. As a result, the price pushed back up, rising to $0.070 before dropping to its current level of $0.069.

We can see that the MACD is bearish, indicating that we could see the price drop further.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has dropped during the ongoing session. If the current sentiment persists, we could see TRX drop towards $0.065.