Tron Price Prediction: TRX Registers Stunning Fall, Down by Over 11%

Daily Tron Technical Analysis

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Last Updated November 17th 2021
3 Min Read
  • The Tron price registered a sharp drop during the current session, dropping to $0.109. 
  • TRX was quite bullish at the start of the week and had pushed up to $0.124 on Monday. 

The Tron price fell during the current session, as bears took control and pushed the price below $0.110. TRX was quite bullish before today's session, as the price registered a significant increase over the weekend. TRX had pushed up to $0.112 on Saturday before rising by over 4% on Sunday to end the weekend at $0.117. Monday saw the bullish sentiment persist, as buyers pushed the price up by almost 6% to $0.124. 

Tron Price Chart Indicates TRX Could Drop To $0.105 

The Tron price started the previous weekend on a bearish note, as the price registered a marginal drop on Saturday. It recovered on Sunday, pushing up by 2.26% to end the weekend at $0.105. The bullish sentiment continued as TRX started Monday on a bullish note, rising by almost 5% and settling at $0.110, before another increase on Tuesday saw the price push up to $0.114. However, the price turned bearish on Wednesday, as sellers pushed TRX down to $0.107, a drop of over 6%.

Image: TRX/USD daily chart 111721

Image: TRX/USD daily

After dropping to $0.107, the Tron price recovered on Tuesday, rising to $0.108, before falling back on Friday, registering a drop of 0.44%. The weekend saw the bullish sentiment return, as TRX pushed up by almost 4% on Saturday, rising to $0.112. Sunday saw the price push up further, as TRX rose by over 4%, ending the weekend at $0.117, and pushed further on Monday as the price rose to $0.124 on Monday. However, TRX fell drastically during the current session, with the price currently down by over 12%. If the current sentiment persists, we could see the MACD and Parabolic SAR flip to bearish.

Image: TRX/USD 4-hour chart 111721

Image: TRX/USD 4-hour

The 4-hour Tron price chart shows us that TRX had pushed up to $0.116 on the 10th. From here, TRX dropped to $0.107, slipping below the 20-bar SMA. At this price level, the 50-bar SMA acted as support and pushed the price up to $0.110, but with the 20-bar SMA now acting as support, the price dropped back to $0.106, slipping just below the 50-bar SMA. TRX made a strong recovery from this level, pushing past the 20 and 50-bar SMAs to surge to $0.116 and then to $0.128. However, the price turned bearish after reaching this level, as it dropped to $0.113, going below the 20-bar SMA and dropping to its current level of $0.108, slipping below the 50-bar SMA as well.

The MACD has flipped to bearish, indicating that the price could drop further during the current session. We can also see that the price had pushed above the neutral zone on the 15th, indicated by the RSI.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has registered a sharp drop during the current session. If the current sentiment persists, then we could see the price drop below $0.105.