Tron Price Prediction: TRX Pushes To $0.057 As Recovery Continues

Daily Tron TRX Technical Analysis

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Last Updated January 27th 2022
3 Min Read
  • The Tron price pushed up by nearly 2% during the ongoing session, as TRX looks to push to $0.060. 
  • TRX has managed to reverse significant bearish sentiment over the past couple of sessions as the price manages to recover. 

The Tron price is currently up by almost 2%, as buyers pushed TRX to $0.057, with the price in the green for the second day in a row. TRX had ended the weekend on a fairly positive note, settling at $0.057 on Sunday. However, TRX was back in the red on Monday, as it dropped by 4.56% and settled at $0.055. TRX managed to recover on Tuesday, rising by over 2%, moving to $0.056 and then pushing up to $0.057 during the ongoing session. 

Tron Price Chart Indicates TRX Could Push Towards $0.060 

The Tron price started the previous week on a fairly positive note, registering an increase of 1% on Monday and moving to $0.070. However, at this level, the 20-day SMA came into play as resistance, and the price fell back on Tuesday, dropping by over 3% and settling at $0.068. On Wednesday, the price registered a recovery, pushing up by 1.44%, before dropping back on Thursday and falling by nearly 2% to $0.067. TRX remained bearish on Friday as well, as the price registered a sharp drop of over 10%, falling to $0.060.

Image: TRX/USD daily

TRX/USD daily chart 012722

The weekend saw the Tron price remain in the red on Saturday, as the price dropped by nearly 7% and settled at $0.056. Despite the bearish sentiment, TRX was able to register a marginal recovery on Sunday, rising by 1.58% and ending the weekend at $0.057. Monday saw TRX fall back in the red, as the price dropped by 4.56% to $0.055 before recovering and pushing up to $0.056 on Tuesday. The current session sees TRX up by just over 1%, and if the price continues to push higher, we could see the MACD flip back to bullish.

Image: TRX/USD 4-hour

TRX/USD 4-hour chart 012722

Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.071 on the 20th. However, the price could not stay at this level and fell back drastically, slipping below the 20 and 50-bar SMAs to $0.065. TRX continued to drop from this level and fell to $0.054 on the 22nd. TRX was able to register a marginal recovery from this level, rising to $0.058 before dropping back to $0.052 on the 24th. TRX was able to make a strong recovery from this level, as it rose to $0.055, then pushed above the 20-bar SMA and moved to its current level of $0.057.

We can see that the Parabolic SAR and MACD are both currently 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 TRX has made a steady recovery over the past couple of days. If the current sentiment persists, we could see TRX push to $0.060.