Tron Price Prediction: TRX Registers Marginal Increase, Pushes To $0.065

Daily Tron TRX Technical Analysis

Last Updated February 16th 2022
3 Min Read
  • The Tron price is currently up by nearly 1%, as buyers look to push the price higher. 
  • TRX had been fairly bearish during the previous week and had dropped over 6% on Friday. 

The Tron price continued to push higher during the ongoing session, as buyers pushed the price to $0.065. TRX had started the weekend on a fairly bearish note, dropping by almost 1% on Saturday and falling to $0.064. However, the price registered a marginal increase on Sunday and then rose by 0.52% on Monday. The current session sees TRX at $0.065 with sellers in control. 

Tron Price Chart Indicates TRX Could Push Higher 

The Tron price was fairly bearish over the previous weekend, registering a marginal increase on Saturday and then rising by almost 2% on Sunday to end the weekend at $0.066. Monday started with the bullish sentiment persisting, as TRX pushed above the 50-day SMA and rose to $0.068. However, the price fell back marginally on Tuesday before recovering on Wednesday, rising by 2.52% and moving to $0.070. TRX fell back after reaching this level and dropped by 1.49% to $0.069 on Thursday.

Image: TRX/USD daily

Image: TRX/USD daily chart 021622

The Tron price continued to drop on Friday, as it fell by over 6%, slipping below the 50-day SMA and dropping to $0.064. The weekend started with the bearish sentiment persisting, with TRX registered a drop of 0.94% before recovering on Sunday and ended on a slightly positive note. Monday saw TRX remain in the green, as it rose by 0.52% and then pushed up by nearly 2% during the ongoing session.

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

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 021622

The 4-hour Tron price chart shows us that TRX had pushed up to $0.070 on the 8th before dropping back and falling to $0.067. At this level, the 20-bar SMA acted as support, and TRX recovered, rising to $0.071 on the 10th, before dropping back significantly, going below the 20-bar SMA and settling at $0.068. TRX continued to drop, slipping below the 50-bar SMA, falling to $0.063 on the 12th, where the 200-bar SMA was acting as support. As a result, TRX was able to stay at this level and then pushed above the 20-bar SMA on the 14th, moving to its current level of $0.065.

We can see that the MACS 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 had been relatively positive over the past few sessions. If the current sentiment persists, we could see TRX push above the $0.065 level.