Tron Price Prediction: TRX Fails To Push To $0.080, Stays At $0.079 For Now 

Daily Tron Technical Analysis

Last Updated December 24th 2021
2 Min Read
  • The Tron price failed to push to $0.080, with the price still placed at $0.079. 
  • TRX had registered a marginal drop on Wednesday, as the price fell back in the red. 

The Tron price has been unable to push to $0.080 so far during the current session, although the price is up by just over 1%. TRX started the week on a fairly bearish note, falling by over 3%. However, TRX pushed back up on Tuesday, rising to $0.078, registering an increase of 1.74%. However, on Wednesday, the price fell back, dropping marginally before rising during the ongoing session. 

Tron Price Chart Indicates TRX Facing Strong Resistance At Around $0.080 

The Tron price started the previous week on an extremely bearish note, dropping by almost 7%, slipping below the 200-day SMA, and settling at $0.084. The price recovered on Tuesday, rising by almost 3%, pushing back above the 200-day SMA and settling at $0.087. Wednesday saw TRX register another increase, as it moved to $0.088. TRX fell back on Thursday, falling by 3.08%, slipping back below the 200-day SMA and settling at $0.085. The price continued to drop on Friday, falling by almost 7% and dropping to $0.079.

Image: TRX/USD daily

TRX/USD daily chart 122421

The Tron price registered a marginal recovery on Saturday before falling back into the red on Sunday and settling at $0.079. Monday saw TRX continue to drop, as the price fell by just over 3% and settled at $0.077. However, the price recovered on Tuesday, pushing up by 1.74% and settling at $0.078, before dropping back in the red on Wednesday. The current session sees TRX marginally up, as buyers look to push the price to $0.080.

We can see that the Parabolic SAR is currently bearish, but if the price pushes above $0,080, we could see it flip to bullish.

Image: TRX/USD 4-hour

TRX/USD 4-hour chart 122421

The 4-hour Tron price chart shows us that TRX had moved to $0.081 on the 18th. The price fell back from this level, dropping to $0.080, before rising to $0.081. The price dropped significantly from this level, falling to $0.075 on the 20th. The price recovered from this level, rising to $0.078, and pushed above the 20-bar SMA, rising to $0.080. The price fell back from this level, falling to $0.078, where the 20-bar SMA acted as support. TRX was able to stay at this level before moving to its current level of $0.079.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop during the current session.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX is up by over 1% during the current session. If the current sentiment persists, we could see TRX test the resistance at $0.080.