Tron Price Prediction: TRX Makes Strong Recovery, Pushes Back Above $0.060

Daily Tron TRX Technical Analysis

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Last Updated February 24th 2022
3 Min Read
  • The Tron price made a strong recovery on Tuesday, rebounding and pushing up by almost 6%. 
  • The current session sees TRX up marginally, as buyers look to push the price higher. 

The Tron price made a strong recovery to push back above the $0.060 level, rising to $0.063 during the current session. TRX had made a bearish start to the week after ending Sunday at $0.062. Monday saw the price continue to drop, as it fell by 2.51% and settled at $0.059. TRX made a strong recovery on Wednesday, rising by almost 6% and moving to $0.062, and then pushing up to $0.063 during the ongoing session. 

Tron Price Chart Indicates TRX Looking To Push To $0.065 

The Tron price was in the red at the start of the previous weekend, dropping by 0.94% on Saturday. On Sunday, the price recovered, registering a marginal increase and moving to $0.064. TRX continued to push higher on Monday, rising by 0.47% and then pushing past the 50-day SMA on Tuesday, rising to $0.067. However, TRX fell back after reaching this level, dropped by 0.88% on Wednesday, then dropped by over 6% on Thursday, falling below the 50 and 20-day SMAs and settling at $0.062.

Image: TRX/USD daily

Image: TRX/USD daily chart 022422

Despite the prevailing bearish sentiment, the Tron price recovered on Friday, registering a marginal increase of 0.56%. TRX continued to push higher over the weekend, rising by 1.59% on Saturday but falling back in the red on Sunday and settling at $0.062. Monday saw the bearish sentiment persist, as TRX fell by almost 5% before making a strong recovery on Tuesday, rising by 6.89% and moving to $0.062. The current session sees buyers and sellers looking to establish control, with the price marginally up.

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

Check Out: TRON (TRX) Price Prediction

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 022422

The 4-hour Tron price chart shows us that TRX had dropped to $0.062 on the 28th, slipping below the 200-bar SMA. The price recovered from this level, rising to $0.063 and then dropping back to $0.062. TRX made a fairly strong recovery from this level, moving past the 200-bar SMA and moving to $0.064. However, the 20-bar SMA was acting as resistance at this level, and the price fell back, dropping back below the 200-bar SMA and settling at $0.061 on the 20th. After dropping to this point, TRX made another strong recover, pushing above the 20 and 200-bar SMAs, rising to $0.063, before turning bearish, dropping back below the 20 and 200-bar SMAs and settling at $0.59 on the 22nd. TRX was able to push back from this level, as it surged back past the 20 and 200-bar SMAs and moved to its current level of $0.063.

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

Tron Price Is Expected To Reach These Levels

The Tron price chart shows that TRX has made a fairly strong recovery on Tuesday and is marginally up during the current session. If the bullish sentiment persists, we could see TRX push towards $0.065.

Read More: 

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