Tron Price Prediction: TRX Looks To Recover Back To $0.060

Daiy Tron TRX Technical Analysis

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Last Updated February 4th 2022
3 Min Read
  • The Tron price pushed back up marginally during the ongoing session, moving to $0.059. 
  • TRX had pushed up to $0.060 on Tuesday but fell back on Wednesday, dropping to $0.058. 

The Tron price registered a marginal recovery during the ongoing session, as buyers returned to the market, pushing TRX to $0.059. TRX had started the week on a fairly positive note, rising by 0.87% on Monday. On Tuesday, the price continued to push higher, rising by 1.21% and moving to $0.060. However, the price fell back on Wednesday, falling by over 2% and dropping to $0.058, before recovering and moving to $0.059. 

Tron Price Chart Indicates TRX Could Push To $0.060 

The Tron price started the previous week in the red, dropping by nearly 5% on Monday, falling to $0.055. The price managed to recover on Tuesday, rising by 2.11% and moving to $0.056. The price managed to remain in the green on Wednesday and Thursday, rising by 0.27% and 0.32%, respectively, before pushing up by 1.49% and moving to $0.057 on Friday. The weekend started with TRX continuing to push higher, as it rose by over 5% on Saturday and moved to $0.060.

Image: TRX/USD daily

Image: TRX/USD daily chart 020422

After pushing up by over 5% on Saturday, the Tron price fell back on Sunday, dropping by 2.52% and ending the weekend at $0.058. The price recovered on Monday, rising by 0.87%, before pushing up on Tuesday and rising by 1.21%, moving to $0.060. However, the price fell back on Wednesday, dropping by over 2% and falling to $0.058, before recovering during the ongoing session.

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 020422

Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.057 on the 26th. After reaching this level, the price fell back below the 20-bar SMA and fell to $0.054. TRX recovered from this level and pushed back above the 20-bar SMA, rising to $0.056. With the 20-bar SMA now acting as support, TRX was able to push to $0.057 and then push above the 50-bar SMA, rising to $0.060 on the 30th. However, TRX fell back after reaching this level, dropping below the 20-bar SMA to $0.056, where the 50-bar SMA acted as support. TRX was able to recover from this point and pushed back above the 20-bar SMA, rising to $0.060 and then dropping to its current level of $0.059.

We can see that the MACD and Parabolic SAR are both bearish, but if TRX is able to push above the 20-bar SMA, 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 registered a marginal recovery during the ongoing session after a considerable drop on Wednesday. If the current sentiment persists, we could see TRX push back to $0.060.