- The Tron Price Pushed up on Friday and Saturday, moving above the 20-day SMA.
- TRX had dropped significantly during the previous week, dropping by over 10% on Tuesday.
The Tron price has recovered over the weekend, with the current session seeing the price at $0.106. TRX was quite bearish towards the end of the previous week, with the price having slipped below the 20-day and 50-day SMAs on Thursday. TRX registered a drop of over 10% on the day and fell to $0.100. However, Friday saw the price recover, as it pushed back above the 50-day SMA and settled at $0.104. The price continued to push up on Saturday, rising to $0.105.
Tron Price Chart Indicates Buyers And Sellers Vying For Control
The Tron price entered the previous weekend on a bearish note, as the price registered a marginal drop on Friday. However, the price picked up over the weekend, rising by almost 4% on Saturday and 4.03% on Sunday to end the weekend at $0.117. The bullish sentiment continued on Monday, as TRX registered an increase of almost 6% on Monday, rising to $0.124. However, after reaching this level, the price registered a drastic drop, as it fell by more than 11%, dropping to $0.110 on Tuesday.
Image: TRX/USD daily
After dropping to $0.110 on Tuesday, the Tron price recovered on Wednesday, as the price pushed up by 1.46% and settled at $0.111. However, the price fell once more Thursday, with sellers managing to push the price down by over 10%, with TRX slipping below the 20 and 50-day SMAs and settling at $0.100. TRX found strong support at this level and pushed back up on Friday, moving back above the 50-day SMA and settling at $0.104. The price continued to push up over the weekend, with an increase of 1.68% on Saturday. As buyers look to push the price higher, the current session sees TRX hovering between $0.105 and $0.106.
Currently, we can see that the MACD is bearish; however, if the price recovers and moves higher, we could see it flip to bullish.
Image: TRX/USD 4-hour
Looking at the 4-hour Tron price chart, we can see that TRX had dropped to $0.113 on the 16th, slipping below the 50-bar SMA. The price continued to drop as it pierced the support at the 20-bar SMA and dropped to $0.107. TRX recovered from this level, as it rose to $0.113, but with the 50-bar SMA acting as resistance, it failed to push past this level and dropped to $0.098, slipping below the 200-bar SMA. TRX pushed back up from this level, rising to $0.105, but with the 200-bar SMA acting as resistance, dropped back marginally to $0.102 before recovering and rising to its current level of $0.106, pushing past the 20 and 200-bar SMAs. We can see the Parabolic SAR is currently bullish, indicating that we could see the price push up higher during the current session.
Tron Price Is Expected To Reach These Levels
The Tron price chart shows us that TRX has recovered strongly over the weekend. Currently, the price is at $0.105, and if buyers can retain control of the session, we could see the price push to $0.110.