Tron Price Prediction: TRX Set To End Weekend In The Red, Could Drop To $0.060

Daily Tron TRX Technical Analysis

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Last Updated February 21st 2022
2 Min Read
  • The Tron price is down by over 2% during the ongoing session. 
  • TRX has been relatively bearish during the week and had registered a share drop of over 6% on Thursday. 

The Tron price fell back in the red during the current session, as sellers look to push TRX down to $0.060. TRX had registered a sharp drop on Thursday, falling by over 6% and settling at $0.062. However, the price recovered on Friday, rising by 0.52%, and then registered an increase of 1.64% on Saturday to end the session at $0.063 before falling back during the ongoing session. 

Tron Price Chart Indicates TRX Could Drop To $0.060 

The Tron price started the previous weekend on a bearish note, dropping by over 6%, slipping below the 50-day SMA on Friday. TRX remained bearish on Saturday, falling by 0.94% before recovering on Sunday and ending the weekend at $0.064 after a marginal recovery. TRX remained in the green on Monday, as it rose by 0.52% and then by over 4% on Tuesday, pushing above the 50-day SMA and settling at $0.067.

Image: TRX/USD daily

Image: TRX/USD daily chart 022122

The Tron price fell back on Wednesday, dropping by 0.88%, before registering a significant drop on Thursday. Thursday saw TRX slump by 6.37%, slipping below the 50 and 20-day SMAs and settling at $0.062. However, despite the bearish sentiment, TRX was able to recover on Friday, registering a marginal increase, and then pushed up by almost 2% on Saturday, moving to $0.063, before dropping back during the current session.  

We can see that the MACD is currently bearish, indicating that we could see the price drop further.

Check Out: How To Make (Or Lose) Money With Tron (TRX)

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 022122

The 4-hour Tron price chart shows that TRX had pushed up to $0.066 on the 15th. TRX pushed higher from this level, rising above the 50-bar SMA and moving to $0.067 before dropping back to $0.065, back below the 50-bar SMA. TRX could not move past the 50-bar SMA again and fell back significantly, dropping below the 20-bar SMA, falling to $0.065 on the 17th. TRX continued to drop from this level, falling below the 200-bar SMA and dropping to $0.062 on the 18th. The price recovered and pushed up to $0.064, pushing back above the 200-bar SMA. However, it could not move past the 20-bar SMA and fell back to its current level of $0.062.

We can see that the MACD has just flipped to 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 dropped considerably during the ongoing session. If the current sentiment persists, we could see TRX drop to $0.060.

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