Tron Price Prediction: TRX Registers Marginal Drop, Falls To $0.066

Daily Tron TRX Technical Analysis

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Last Updated February 18th 2022
3 Min Read
  • The Tron price is marginally down as buyers and sellers struggle to control the session. 
  • TRX had a fairly positive start to the week and had pushed up by over 4% on Tuesday. 

The Tron price found itself back in the red, registering a marginal drop as sellers look to establish control. TRX had started the week on a fairly positive note, registering a marginal increase of 0.51% on Monday. On Tuesday, the price continued to push higher, rising by 4.02% and moving above the 50-day SMA. However, the price fell back on Wednesday, falling by 0.88%, before dropping further during the ongoing session. 

More on Tron: How To Make (Or Lose) Money With Tron (TRX)

Tron Price Chart Indicates Buyers And Sellers Looking To Establish Control 

The Tron price started the previous week on a fairly positive note, rising by 3.43% on Monday and pushing above the 50-day SMA. On Tuesday, the price fell back, registering a marginal drop before recovering on Wednesday, rising by 2.52% and moving to $0.070. TRX fell back after reaching this level, dropping by 1.49% on Thursday and then by over 6% on Friday, slipping below the 50-day SMA to $0.064.

Image: TRX/USD daily

Image: TRX/USD daily chart 021822

The weekend started with the bearish sentiment persisting as the Tron price fell by 0.94% on Saturday before recovering on Sunday, registering a marginal increase and ending the weekend at $0.064. Monday saw TRX remain in the green as it reported another marginal increase before rising by over 4% on Tuesday, pushing back above the 50-day SMA and settling at $0.067. The price fell back on Monday, dropping by 0.88% before dropping during the ongoing session as buyers and sellers look to take control.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 021822

The 4-hour Tron price chart shows that TRX had dropped to $0.066 on the 10th, where the 50-bar SMA acted as support. TRX continued to drop from this level as it slipped below the 50-bar SMA and fell to $0.063. At this level, the 200-bar SMA was acting as support, and TRX was able to stay at this level, rising to $0.065 and then dropping to $0.063 on the 13th. XRP pushed above the 20-bar SMA on the 14th but fell back, dropping to $0.064. The price made a strong recovery from this level, as it pushed above the 20-bar SMA and rose to $0.065. TRX continued to push higher from this level, pushing above the 50-bar SMA on the 16th before dropping back below the SMA and falling to $0.065. TRX pushed up from this level, pushing back above the 20-bar SMA and moving to its current level of $0.066.

We can see that the MACD and Parabolic SAR are bullish, but if TRX continues to drop, we could see them flip back to bearish.

Tron Price Is Expected To Reach These Levels

The Tron price chart shows that buyers and sellers are struggling to establish control during the current session, with TRX marginally down. If sellers control the session, TRX could drop below $0.065. However, if buyers can control the session, we could see TRX push up towards $0.070.