Tron Price Prediction: TRX Registers Marginal Drop After Pushing To $0.068

Daily Tron Technical Analysis

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Last Updated January 14th 2022
3 Min Read
  • The Tron price is back in the red during the current session, down by over 1%. 
  • TRX had registered a sharp increase on Wednesday, rising by 5.48%. 

The Tron price registered a marginal drop during the current session, as TRX encountered some resistance after hitting $0.068. TRX had started the week on a bearish note, dropping by nearly 4% on Monday. However, the price pushed back up from this level, rising by 2.15% on Tuesday and settling at $0.064. The price continued to push higher, rising by 5.48% on Wednesday and moving to $0.068 before registering a marginal drop. 

Tron Price Chart Indicates Buyers And Sellers Struggling To Control Session 

The Tron price started the previous week in the red, dropping by 0.66% on Monday and nearly 2% on Tuesday to settle at $0.075. The bearish sentiment persisted on Wednesday, as TRX fell by nearly 6%, dropping to $0.071, with the price remaining in the red on Thursday as well after registering a marginal drop. Friday saw another significant drop as sellers pushed the price down by 3.62%, with TRX dropping to $0.068. The weekend started on a similar note for TRX, as the price dropped by 3.93% on Saturday, falling to $0.065.

Image: TRX/USD daily

Image: TRX/USD daily chart 011422

The Tron price recovered on Sunday, as TRX rose by 1.06%, rising to $0.066. However, on Monday, the price fell back to $0.063 and started the week on a bearish note. TRX made a strong recovery on Tuesday, as the price pushed up by over 2%, rising to $0.064. On Wednesday, the price continued to push higher, rising by 5.48% and moving to$0.068 before registering a marginal drop during the ongoing session.

We can see that the Parabolic SAR is currently bullish, indicating that we could see the price push higher.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 011422

Looking at the 4-hour Tron price chart, we can see that TRX had dropped to $0.064 on the 8th. The price pushed back up from this level, rising to $0.066 and then to $0.067 on the 9th. However, the 20-bar SMA was acting as resistance at this level, and the price dropped to $0.065 and then fell to $0.062. TRX was able to rally from this level, as it rose to $0.064 and then pushed above the 20-bar SMA on the 12th, rising to $0.068. At this level, the 50-bar SMA was acting as resistance, and the price fell to $0.067 before rising to its current level of $0.068.

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 registered a marginal drop during the current session. If the price continues to drop, we could see TRX fall to $0.065, but if the price can recover, TRX could push towards $0.070.