Tron Price Prediction: TRX Drops, Slips To $0.068 In Face Of Strong Resistance At $0.070

Daily TRX Technical Analysis

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Last Updated January 19th 2022
3 Min Read
  • The Tron price is currently down almost 2%, with TRX unable to push beyond $0.070. 
  • TRX had been fairly bullish in recent sessions and had pushed up to $0.070 on Monday. 

The Tron price fell back during the ongoing session, as sellers drove the price down significantly, with TRX dropping to $0.068. The Tron price was quite bullish over the weekend, rising by 2.52% on Friday and moving to $0.068. The price continued to push higher over the weekend, rising by 0.65% on Saturday and then by 1.90% on Sunday to end the weekend at $0.069. Monday saw TRX push to $0.070, starting the week on a positive note before dropping back during the current session. 

Tron Price Chart Indicates TRX Could Slip Below $0.068 

The Tron price was extremely bearish over the previous weekend, registering a drop of almost 4% on Saturday, dropping to $0.065. The price recovered on Sunday, rising to $0.066, but fell back in the red on Monday, dropping to $0.063, registering a drop of almost 4%. TRX recovered on Tuesday, registering an increase of 2.15% and moving to $0.064, and then pushed up to $0.068 on Wednesday, rising by 5,48%. Despite the bullish sentiment, the price fell back on Thursday, dropping over 3% and settling at $0.066.

Image: TRX/USD daily

Image: TRX/USD daily chart 011922

The Tron price made a fairly strong recovery on Friday, rising by 2.52% and settling at $0.068, entering the weekend on a fairly positive note. The price continued to push higher over the weekend, rising by 0.65% on Saturday and then by 1.90% on Sunday to end the weekend at $0.069. The current week started with TRX increasing by 1.01% on Monday before dropping back during the current session and moving to its current level of $0.068.

We can see that the Parabolic SAR 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 011922

Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.068 on the 13th, moving above the 50-bar SMA. However, the price could not stay at this level and fell back, dropping to $0.066 and slipping below the 50-bar SMA. However, with the 20-bar SMA acting as support, the price made a strong recovery, rising back above the 50-bar SMA and moving to $0.067. With the 20-bar SMA now acting as support, TRX continued to push higher, rising to $0.069 on the 15th and to $0.071 on the 17th. However, after reaching this level, the price fell back, dropping below the 20-bar SMA and moving to its current level of $0.069.

We can see that the MACD and Parabolic SAR have both flipped to bearish, indicating that the price will drop further.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has registered a sharp drop during the current session, slipping below the $0.070 mark. If the price continues to drop, we could see TRX drop further towards $0.065.