Tron Price Prediction: TRX Looking To Push Above $0.066 During Current Session

Daily Tron Technical Analysis

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Last Updated January 11th 2022
3 Min Read
  • The Tron price is looking to push above $0.066, as buyers and sellers look to control the session. 
  • TRX had been extremely bearish the previous week and had dropped to $0.065 on Saturday.

The Tron price is marginally down during the ongoing session, as buyers and sellers look to establish control in the market. TRX had been bearish all of last week and had dropped by nearly 4% on Friday, entering the weekend on a bearish note. On Saturday, the price continued to drop as TRX fell by nearly 4%, dropping to $0.065. However, Sunday saw a marginal recovery, as buyers pushed the price up by 1.06% to $0.066. 

Tron Price Chart Indicates Buyers And Sellers Vying For Control 

The Tron price was quite bullish during the previous weekend, rising by 1.45% on Saturday. Sunday saw the price continue to push higher, as it rose by 1.59% and settled at $0.077. However, TRX fell back in the red on Monday, dropping by 0.65%, and then dropping by nearly 2% on Tuesday and settling at $0.075. The price continued to drop on Wednesday, as TRX fell by almost 6%, falling to $0.071, before registering a marginal drop on Thursday and falling to $0.070.

Image: TRX/USD daily

Image: TRX/USD daily chart 011122

After Thursday’s marginal drop, the Tron price continued to drop on Friday, falling by 3.62% and settling at $0.068. The weekend started with the bearish sentiment prevailing on Saturday, with TRX dropping by nearly 4%, dropping to $0.065. However, TRX was able to register a recovery on Sunday despite the overall bearish sentiment, ending the weekend on a positive note after rising by 1.06%. The current session sees TRX marginally down, as buyers and sellers look to control the session.

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

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 011122

Looking at the 4-hour Tron price chart, we can see that TRX had registered a sharp drop on the 6th, falling to $0.069. The price registered a marginal increase from this level, rising to $0.071, but fell back in the red, dropping to $0.067 on the 7th. The price pushed back up, rising to $0.069, but could not push past this level, dropping to $0.064 on the 8th. TRX made a strong recovery from this level, rising to $0.067, where the 20-bar SMA came into play as resistance. As a result, the price dropped, moving to its current level of $0.066.

We can see that the Parabolic SAR and MACD are both bullish, indicating that we could see the price push higher.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that buyers and sellers are struggling to gain control of the current session. If buyers can take control, we could see the price push above $0.066. However, if sellers take control, we could see the price drop below $0.065.