Tron Price Prediction: TRX Fails To Push To $0.070, Registers Marginal Drop

Daily Tron TRX Technical Analysis

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Last Updated February 10th 2022
3 Min Read
  • The Tron price failed to push to $0.070, as it could not push past the 50-day SMA. 
  • TRX has been fairly bullish in recent sessions and had pushed up to $0.068 on Monday. 

The Tron price registered another marginal drop as it failed to move past the 50-day SMA and push to $0.070. TRX had ended the weekend on a fairly positive note, rising to $0.066 and pushing to $0.068 on Monday after registering an increase of over 3%. However, the price fell back on Tuesday, registering a marginal drop. The current session sees buyers and sellers looking to establish control, with TRX marginally up. 

Tron Price Chart Indicates Buyers And Sellers Struggling To Establish Control 

The Tron price ended the previous weekend in the red, dropping by 2.52% and falling to $0.058. The price recovered on Monday, registering a marginal increase, before registering an increase of 1.21% on Tuesday and rising to $0.060. The price fell back on Monday, dropping by over 2% to $0.058, before recovering on Thursday, rising by 2.34% and moving to $0.060. Friday saw TRX continue to push higher, surging by nearly 8%, going past the 20-day SMA and settling at $0.064.

Image: TRX/USD daily

Image: TRX/USD daily chart 021022

The weekend saw the Tron price remain bullish, as TRX registered a marginal increase on Saturday before rising by nearly 2% on Sunday and settling at $0.066. Monday saw TRX continue to push higher, registering an increase of over 3% and rising to $0.068. However, the 50-day SMA was acting as resistance at this level, and the price fell back on Tuesday, registering a marginal drop. The current session sees buyers and sellers vying for control, with the price marginally up.

We can see that the MACD is currently bullish, but if TRX drops, we could see it flip to bearish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 021022

The 4-hour Tron price chart shows us that TRX had dropped below the 20-bar SMA on the 3rd when the price fell to $0.058. With the 50-bar SMA acting as support, TRX could stay at this level for the subsequent few sessions before recovering and surging past the 20-bar SMA, pushing to $0.063 on the 4th. TRX continued to push higher from this level, going past the 200-bar SMA and settling at $0.066 before dropping to $0.064. TRX recovered from this level, rising to $0.070 on the 8th and then dropping to its current level of $0.068.

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

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has dropped marginally over the past couple of sessions thanks to the 50-day SMA coming into play as resistance. If sellers manage to retain the session, we could see TRX drop to $0.065, but if the price can recover, we could see it move to $0.070.