Tron Price Prediction: TRX Recovers, Starts Week On Bullish Note

Daily Tron TRX Tachnical Anlaysis

Last Updated February 22nd 2022
3 Min Read
  • The Tron price is currently up by almost 2%. 
  • TRX has been fairly bearish during recent sessions and had ended the previous week at $0.062. 

The Tron price is back in the green as buyers returned to the market, pushing its price to $0.063. TRX had a relatively mixed weekend, starting with a marginal increase on Friday. The price pushed higher over the weekend, rising by 1.64% on Saturday but fell back on Sunday, dropping by 2.60% and ending the weekend at $0.062 before recovering during the ongoing session. 

Tron Price Chart Indicates TRX Could Push To $0.065 

The Tron price started the previous week on an extremely bearish note, dropping below the 50-day SMA on Friday and falling to $0.064. TRX remained in the red on Saturday, falling by 0.94%, before registering a marginal recovery on Sunday and ending the weekend on a positive note. TRX remained in the green on Monday, registering an increase of 0.47%, then rising by over 4% on Tuesday, moving past the 50-day SMA and settling at $0.067. However, on Wednesday, the price was back in the red as TRX registered a marginal drop of 0.88%.

Image: TRX/USD daily

Image: TRX/USD daily chart 022222

The Tron price continued to drop on Thursday, registering a sharp drop, slipping below the 50 and 20-day SMAs and settling at $0.062. TRX registered a recovery on Friday, registering a marginal increase and then rising by almost 2% on Saturday, moving to $0.063. However, Sunday saw TRX fall back in the red, falling by nearly 3%, before recovering during the ongoing session.

We can see that the MACD is currently bearish, but if the price continues to push higher, we could see it flip to bullish.

Check Out: TRON (TRX) Price Prediction

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 022222

The 4-hour Tron price chart shows that TRX had pushed up to $0.067 on the 16th. The price fell back from this level, dropping below the 50-bar SMA and dropping to $0.065. With the 50-bar SMA acting as resistance, TRX was unable to move past this level and fell back significantly, dropping below the 20-bar SMA and falling to $0.065. TRX continued to drop from this level, as it fell below the 200-bar SMA to $0.062 on the 18th. TRX recovered from this level, pushing above the 200-bar SMA and rising to $0.063 before dropping back and falling to $0.062, dropping back below the 200-bar SMA. TRX made a strong recovery from this level, pushing above the 200-bar SMA and rising to $0.064, where the 20-bar SMA acted as resistance. As a result, the price fell back below the 200-bar SMA and fell to $0.061 on the 20th. TRX made a strong recovery from this level, pushing back above the 20 and 200-bar SMAs and moving to its current position of $0.063.

We can see that the Parabolic SAR and MACD have both turned 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 during the ongoing session. If the current sentiment persists, we could see TRX push to $0.065.

Read More: 

22 Reasons Why You Should Invest In Tron (TRX) Today

Is TRON (TRX) Expected To Reach $100 Or More In The Next 5 Years

Should You Buy Tron?

Why TRON (TRX) Is So Cheap?