Tron Price Prediction: TRX Registers Sharp Drop During Ongoing Session

Daily Tron Technical Analysis

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Last Updated December 29th 2021
3 Min Read
  • The Tron price has fallen back significantly during the ongoing session and is currently down by nearly 4%. 
  • TRX has been unable to push past the 20-day SMA, which has been acting as resistance. 

The Tron price registered a sharp drop during the current session, as sellers took control and significantly pushed the price down. TRX had pushed up significantly but fell back in the red on Friday, dropping by over 2% and settling at $0.080. However, the price recovered over the weekend, rising by 1.09% on Saturday and then registering a marginal increase on Sunday to end the weekend at $0.081. Monday saw TRX remain at $0.081 before dropping back during the current session. 

Tron Price Chart Indicates TRX Could Drop Towards $0.075 

The Tron price registered a marginal increase on Saturday (18th) before dropping back in the red on Sunday and settling at $0.079. The price continued to drop on Monday, falling by over 3% to $0.077, before making a strong recovery on Tuesday and settling at $0.078. The price registered a marginal drop on Wednesday before rising by over 5% on Thursday and moving to $0.082.

Image: TRX/USD daily

Image: TRX/USD daily chart 122921

Despite the bullish session on Thursday, the Tron price fell back in the red on Friday, dropping by 2.43% and settling at $0.080. The price recovered over the weekend, rising by 1.09% on Saturday and then registering a marginal increase on Sunday to end the weekend at $0.081. Monday saw TRX maintain its level of $0.081 before a significant drop during the ongoing session, which sees the price currently at $0.078.

We can see that the Parabolic SAR is still bearish, indicating that the price could continue to drop.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 122921

Looking at the 4-hour Tron price chart, we can see that TRX had pushed above the 20-bar SMA on the 22nd when TRX rose to $0.080. The price fell back from this level, falling to $0.078, where the 20-bar SMA acted as support. The price rose significantly from this level, rising above the 50-bar SMA and settling at $0.082. However, TRX could not stay at this level and fell back to $0.080 before rising to $0.081. The price registered a drastic drop from this level, slipping below the 20 and 50-bar SMAs and dropping to $0.079 on the 26th, before surging back above the two SMAs to $0.082. However, TRX could not stay at this level and fell back below the 20 and 50-bar SMAs and settled at its current level of $0.078.

We can see that the MACD and Parabolic SAR are both bearish, indicating that the price could drop further.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX has dropped significantly during the current session. If the price continues to drop, we could see TRX fall to $0.075.