Tron Price Prediction: TRX Fails To Push Past $0.060, Registers Marginal Drop

Daily Tron TRX Technical Analysis

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Last Updated February 3rd 2022
3 Min Read
  • The Tron price is marginally down during the ongoing session, as buyers and sellers look to establish control. 
  • TRX had gotten off to a fairly strong start to the week and had pushed up to $0.060 on Tuesday.

The Tron price is currently hovering between $0.059 and %0.060 during the ongoing session, as buyers and sellers look to establish control. TRX had pushed up considerably over the weekend, rising by over 5% on Saturday before dropping back on Sunday and falling to $0.058. The week started with TRX back in positive territory, rising by 0.87% on Monday and then pushing up by over 1% on Tuesday and settling at $0.060. 

Tron Price Chart Indicates Buyers And Sellers Looking To Establish Control  

The Tron price got off to a pretty bearish start to the previous weekend, with TRX dropping by nearly 7%. The price recovered on Sunday, rising by 1.52% and ending the weekend at $0.057. However, Monday saw TRX back in the red, as it dropped by nearly 5%, settling at $0.055, before recovering and pushing up over 2% on Tuesday, rising to $0.056. TRX managed to remain in the green on Wednesday and Thursday, rising by 0.27% and 0.32%, respectively, and then rose by 1,49% on Friday, moving to $0.057.

Image: TRX/USD daily

Image: TRX/USD daily chart 020322

The Tron price remained bullish at the start of the weekend, as it rose by over 5% on Saturday, moving to $0.060. However, Sunday saw TRX drop back by 2.52% and end the weekend at $0.058. TRX started the week on a fairly positive note, rising by 0.87% on Monday and then registering an increase of 1.21% on Tuesday, moving to $0.060. The current session sees TRX hover between $0.059 and $0.060 as buyers and sellers struggle to establish control.

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 020322

Looking at the 4-hour Tron price chart, we see that TRX had pushed above the 20-bar SMA on the 26th, rising to $0.057. After reaching this level, the price fell back below the 20-bar SMA and fell to $0.054. TRX made a fairly strong recovery from this level, as it moved above the 20-bar SMA and rose to $0.056 on the 27th. TRX continued to push higher from this level, as it pushed above the 50-bar SMA and rose to $0.060 on the 30th. However, TRX fell back in the red after reaching this level, dropping back below the 20-bar SMA and falling to $0.057, where the 50-bar SMA acted as support. TRX made another strong recovery from this level, as it pushed back above the 20-bar SMA and moved to its current level of $0.060.

We can see that the MACD and Parabolic SAR are both bullish, indicating that we could see the price push higher. However, if TRX drops below $0.060. We could see them flip to bearish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that buyers and sellers are looking to establish control during the ongoing session. If buyers manage to retain the session, we could see TRX push past $0.060, but if sellers retain the session, TRX could drop below $0.060.