Tron Price Prediction: TRX Drops Further, Slips To $0.076

Daily Tron Technical Analysis

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Last Updated January 3rd 2022
3 Min Read
  • The Tron price dropped over 3% on Friday, falling to $0.075. 
  • TRX has posted a marginal recovery over the weekend and has risen to $0.076. 

The Tron price is back up at $0.076, as buyers look to end the weekend on a positive note. TRX had pushed up on Thursday, rising by 1.43% and settling at $0.077, before dropping over 3% and settling at $0.075 on Friday. The price recovered on Saturday as buyers returned to the market, pushing the price up by 1.46% to $0.076, which is where the price is during the ongoing session. 

Tron Price Chart Indicates TRX Could Push Towards $0.080 

The Tron price went into the previous weekend fairly bearish, dropping by over 2% and settling at $0.080. The price recovered over the weekend, registering an increase of 1.09% on Saturday and then registering a marginal increase on Sunday to end the weekend at $0.081. TRX stayed at $0.081 on Monday before dropping over 5% on Tuesday, falling to $0.077, before another drop of 1.04% on Wednesday took the price to $0.076.

Image: TRX/USD daily

Image: TRX/USD daily chart 010322

After dropping to $0.076 on Thursday, the Tron price recovered on Thursday, rising by 1.43% and settling at $0.077. TRX fell back on Friday, dropping by over 3% and settling at $0.075, before pushing up again over the weekend, rising by 1.46% on Saturday. The current session sees TRX between $0.076 and $0.077, with buyers looking to push the price higher.

We can see that the Parabolic SAR is currently bearish, but if the price recovers and pushes towards $0.080, it could flip to bullish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 010322

Looking at the 4-hour Tron price chart, we can see that TRX had fallen below the 20 and 50-bar SMAs on the 28th, dropping to $0.078. The price continued to drop, falling to $0.077 and then pushing up to $0.079. However, the 20-bar SMA was acting as resistance at this level, and TRX price dropped to $0.076 and then pushed up marginally to $0.078. Unable to push past the SMA, further dripped to $0.074 and then pushed back up to $0.076, still unable to move past the 20-bar SMA.

We can see that the MACD is bullish, indicating that we could see the price increase and push past the 20-bar SMA.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX has been unable to push past the 20-bar SMA. If the price does break this resistance level, we could see TRX push towards $0.080, but if the price drops, it could slip below $0.075.