Tron Price Prediction: TRX Drops After Pushing To $0.067

Daily Tron TRX Technical Analysis

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Last Updated February 17th 2022
3 Min Read
  • The Tron price is currently down by over 2%, as sellers pushed TRX down from $0.067. 
  • TRX had made a fairly strong start to the week but found itself back in the red during the ongoing session. 

The Tron price is back in the red as sellers pushed the price down considerably. TRX had ended the weekend on a fairly positive note, registering a marginal increase on Sunday. On Monday, the price remained in the green, rising by 0.52% and then pushing up by over 4% on Tuesday, going past the 50-day SMA and moving to $0.067 before dropping back during the ongoing session. 

Tron Price Chart Indicates TRX Could Drop Below $0.065 

The Tron price started the previous weekend on a fairly positive note, rising by 0.21% on Saturday and then by almost 2% on Sunday to end the weekend at $0.066. TRX continued to push higher on Monday, rising by 3.43% and moving to $0.068, going past the 50-day SMA. Tuesday saw TRX register a marginal drop before recovering on Wednesday, pushing to $0.070. However, after reaching this level, the price fell back, dropping by 1.49% on Thursday and dropping to $0.069.

Image: TRX/USD daily

Image: TRX/USD daily chart 021722

The Tron price remained in the red on Friday, falling by over 6% and dropping to $0.064 after going below the 50-day SMA. The weekend saw TRX remain in the red, as the price registered a marginal drop on Saturday before recovering on Sunday, registering a marginal increase. TRX remained in the green on Monday, rising by 0.52% and then pushing up by over 4%, going above the 50-day SMA and rising to $0.067, before dropping back during the ongoing session.

We can see that the MACD is 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 021722

The 4-hour Tron price chart shows that TRX had pushed up to $0.071 on the 10th. After reaching this level, the price fell back, dropping below the 20-bar SMA and falling to $0.068. TRX continued to drop from here, falling below the 50-bar SMA and settling at $0.063 on the 12th. At this level, the 200-bar SMA was acting as support, and TRX could stay at this level for the next few sessions before rising to $0.065 on the 14th, going above the 20-bar SMA. However, the price fell back before recovering and surging past the 20-bar SMA and rising to $0.066. TRX then pushed past the 50-bar SMA before dropping back to its current level of $0.066.

We can see that the Parabolic SAR and MACD are bullish, but if the price continues to drop, we could see them flip to bearish.

Tron Price Is Expected To Reach These Levels

The Tron price chart shows that TRX has fallen back during the ongoing session. If the current sentiment persists, we could see TRX drop below $0.065.