Tron Price Prediction: TRX Registers Significant Drop, Plummets Below $0.060

Daily Tron TRX Technical Analysis

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Last Updated January 24th 2022
3 Min Read
  • The Tron price dipped below $0.060 as prices crashed across the crypto market on Friday and Saturday. 
  • The current session has seen only a slight recovery, with TRX up by almost 2%. 

The Tron price endured significant drops on Friday and Saturday as prices slumped across the board. The price had dropped by 1.80% on Thursday, falling to $0.067. The drop continued on Friday, as TRX slumped by over 10%, dropping to $0.060. The weekend saw the bearish sentiment continue, as the price dropped further by nearly 7% on Saturday, slipping below $0.060 and falling to $0.057, before a marginal recovery during the ongoing session. 

Tron Price Chart Indicates TRX Could Register Marginal Recovery During Ongoing Session 

The Tron price started the previous weekend on a fairly positive note, rising by 1.61% on Friday. The price remained bullish over the weekend and rose by 1.56% on Saturday and nearly 2% on Sunday to end the weekend at $0.069. Monday saw the bullish sentiment persist, as the week started on a positive note, with TRX moving to $0.070. However, the 20-day SMA was acting as resistance at this level, and the price dropped on Tuesday, falling by 3.28% and settling at $0.068.

Image: TRX/USD daily

Image: TRX/USD daily chart 012422

After registering a drop of over 3% on Tuesday, the Tron price was able to register a marginal recovery on Wednesday, rising by 1.44%. However, the price fell back in the red on Thursday, dropping by 1.80% to $0.067. Friday saw the bearish sentiment intensify, as the price dropped by over 10%, falling to $0.060, and then falling by nearly 7% on Saturday, slipping below $0.060 and settling at $0.067. We can see that TRX has pushed up to $0.068 during the ongoing session and is now up by almost 2%.

We can see that the Parabolic SAR has flipped to bearish, indicating that the price could drop. However, if the price manages a recovery from this level, we could see it flip to bullish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 012422

Looking at the 4-hour Tron price chart, we see that TRX rose to $0.071 on the 17th. However, the price could not stay at this level and fell to $0.069 before slipping below the 20 and 50-bar SMAs and dropping to $0.066 on the 19th. TRX made a strong recovery from this level, as the price rose back above the 20 and 50-bar SMAs, moving to $0.071. TRX went into freefall after reaching this level, as it dropped below the 20 and 50-bar SMAs, falling to $0.065 on the 21st. The price continued to drop after reaching this level and dropped to $0.054 on the 22nd. However, the price was able to recover from his level, moving to $0.058 and then dropping marginally to its current level of $0.057.

We can see that the Parabolic SAR has flipped to bullish, and if the price recovers, we could see the MACD also flip to bullish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has registered a marginal recovery during the ongoing session. If the current sentiment persists, we could see TRX rise to $0.058 and maybe push towards $0.060.