- The Tron price is down marginally during the ongoing session, as buyers look to push TRX lower.
- TRX has been quite bearish in recent sessions but had managed to register a marginal increase on Sunday.
The Tron price slipped to $0.063 during the ongoing session after registering a marginal drop during the ongoing session, with sellers looking to push the price lower. TRX had reported a significant drop on Friday, slipping below the 50-day SMA and falling to $0.064. Saturday saw TRX remain bearish, dropping by 0.94% and starting the weekend in the red. TRX was able to recover on Sunday, registering a marginal increase. The current session sees TRX at $0.063 as buyers and sellers look to establish control.
Tron Price Chart Indicates Buyers And Sellers Looking To Establish Control
The Tron price was quite bullish over the previous weekend, rising by nearly 8% on Friday, pushing above the 20-day SMA and settling at $0.064. TRX remained bullish over the weekend, registering a marginal increase on Saturday and then pushing up by 1.76% on Sunday to end the weekend on a positive note. Monday saw the bullish sentiment persist, as TRX pushed above the 20-day SMA, rising to $0.068, before registering a marginal drop on Tuesday. However, TRX was back in the green on Wednesday, rising by 2.52% and moving to $0.070.
Image: TRX/USD daily
The Tron price fell back on Thursday, dropping by 1.49% and falling to $0.069, and then fell by over 6%, slipping below the 50-day SMA and falling to $0.064. The weekend started with TRX still in the red, dropping by 0.94% on Saturday before registering a marginal recovery on Sunday, rising by 0.44%. The current session sees TRX at $0.064 as buyers and sellers struggle to establish control.
We can see that the Parabolic SAR has flipped to bearish, indicating that we could see the price drop.
Image: TRX/USD 4-hour
The 4-hour Tron price chart shows that TRX had pushed up to $0.070 on the 8th. The price fell back from this level, falling to $0.067, where the 20-bar SMA acted as support. As a result, TRX recovered, rising to $0.071 on the 10th. TRX fell back significantly after reaching this level, slipping below the 20-bar SMA and falling to $0.068. The price continued to drop, slipping below the 50-bar SMA and falling to $0.063, where the 200-bar SMA was acting as support. With the 200-bar SMA acting as support, TRX was able to stay at this level, with its current price hovering between $0.063 and $0.064.
We can see that the MACD is currently bearish, indicating that we could see the price drop further.
Tron Price Is Expected To Reach These Levels
Looking at the Tron price chart, we can see that TRX has registered a marginal drop during the ongoing session. If sellers manage to retain control, we could see TRX drop towards $0.060, but if the price recovers, it could move back towards $0.065.