- The Tron price is marginally up during the ongoing session, as buyers look to push TRX towards $0.060.
- TRX was relatively bearish over the weekend and had dropped by over 2% on Sunday, falling to $0.058.
The Tron price has started the week on a slightly positive note, with TRX marginally up as buyers look to establish control in the market. TRX has been fairly bearish in recent sessions after pushing up by just over 1% on Thursday. The price fell back on Friday, dropping by almost 3% after a fairly volatile session. The weekend saw TRX remain in the red as the price registered a marginal drop on Saturday before dropping by over 2% on Sunday to end the weekend at $0.058 before recovering during the ongoing session.
Tron Price Chart Indicates TRX Could Push To $0.060
The Tron price started the previous weekend on a positive note, registering an increase of 1.59% on Saturday. However, the price fell back on Sunday, dropping by 2.51% and ending the weekend at $0.062. The price continued to drop on Monday as the bearish sentiment persisted, falling by nearly 5%, slipping below the $0.060 level, and settling at $0.059.However, TRX made a strong recovery on Tuesday, pushing up by almost 6%, before dropping back on Wednesday, falling by over 3% and settling at $0.060.
Image: TRX/USD daily
After falling on Wednesday, the Tron price was back in the green on Thursday, rising by 1.15% and moving to $0.061. However, the price fell back in the red on Friday after a volatile session, dropping by nearly 3% and settling at $0.059. The weekend saw TRX remain bearish, with the price registering a marginal drop on Saturday and then dropping by over 2% on Sunday to end the weekend at $0.058. The current session sees TRX marginally up, as buyers look to push TRX to $0.060.
We can see that the MACD is currently bearish, indicating that we could see the price drop.
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Image: TRX/USD 4-hour
Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.063 on the 23rd. At this level, the 50-bar SMA was acting as resistance, and the price fell back, dropping to $0.062. TRX remained bearish after reaching this level and dropped below the 200 and 20-bar SMAs, dropping to $0.057. The price made a strong recovery from this point, pushing back above the 20-bar SMA and rising to $0.061, where the 200-bar SMA acted as resistance. As a result, the price fell back below the 20-bar SMA, dropping to $0.056 on the 25th. TRX pushed back up from this level, rising to $0.061, but could not move past the 20-bar SMA and fell back to $0.058. TRX pushed up once more from this level, moving above the 20-bar SMA, rising to $0.060, before turning bearish, dropping back below the SMA and moving to its current level of $0.058.
We can see that the MACD and Parabolic SAR are both currently bearish, indicating that we could see the price drop. But if TRX is able to recover, we could see them flip back to bearish.
Tron Price Is Expected To Reach These Levels
The Tron price chart shows us that TRX is marginally up during the current session after a bearish weekend. If the current sentiment persists, TRX could push to $0.060, but if the bears can reverse the trend, TRX could drop below $0.058.