Tron Price Prediction: TRX Drops To $0.064 After Pushing To $0.070

Daily Tron TRX Technical Analysis

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Last Updated February 14th 2022
3 Min Read
  • The Tron price has registered a marginal increase during the ongoing session, as buyers look to push the price higher. 
  • TRX has been quite bearish in recent sessions and had dropped by over 6% on Friday. 

The Tron price dropped to $0.064 before registering a marginal increase during the current session as buyers and sellers look to push the price higher. TRX had reached $0.070 but fell back on Thursday, falling by 1.49%. Friday saw TRX drop by over 6%, falling below the 50-day SMA and dropping to $0.064, and then dropped further on Saturday, registering a marginal drop before recovering during the ongoing session. 

Tron Price Chart Indicates Buyers And Sellers Looking To Establish Control 

The Tron price started the previous weekend on a bullish note, rising by nearly 8% on Friday, pushing above the 20-day SMA and settling at $0.064. The weekend saw TRX remain bullish, as the price registered a marginal increase on Saturday and then rose by nearly 2% on Sunday to end the weekend at $0.066. TRX started Monday on a positive note, rising by 3.43%, moving above the 50-day SMA, and settling at $0.068 before registering a marginal drop on Tuesday. TRX recovered on Wednesday, rising by 2.52% and moving to $0.070.

Image: TRX/USD daily

Image: TRX/USD daily chart 021422

The Tron price turned bearish after reaching this level, dropping by 1.49% on Thursday and falling to $0.069. The price continued to drop on Friday, slipping below the 50-day SMA and falling to $0.064, before registering another marginal drop on Saturday, falling by 0.94%. The current session sees TRX marginally up as buyers look to push the price higher.

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 021422

The 4-hour Tron price chart shows is that TRX had pushed up to $0.066 on the 7th. TRX continued to push up from this level, pushing up to $0.070 on the 8th. After reaching this level, the price fell back, dropping to $0.067, where the 20-day SMA acted as support. As a result, the price pushed back up, rising to $0.071 on the 10th, before turning bearish again, dropping below the 20 and 50-bar SMAs and falling to $0.063 on the 12th. TRX was able to recover from this level and pushed up to its current level of $0.065.

We can see that the MACD and Parabolic SAR are currently bearish, but if TRX is able to recover, we could see them flip to bullish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has recovered during the ongoing session. If the current sentiment persists, we could see TRX push to $0.065 and above.