Tron Price Prediction: TRX Slips Below $0.080 After Bearish Weekend

Daily Tron Technical Analysis

Last Updated December 21st 2021
3 Min Read
  • The Tron price has slipped below the $0.080 level over the weekend, as it dropped to $0.079 on Sunday. 
  • The current session sees buyers and sellers struggling for control, with the price still at $0.079. 

The Tron price slipped below $0.080 on Sunday as sellers looked to push TRX below its support level of $0.079. TRX was quite bearish towards the end of the previous week and had registered a significant drop on Friday when the price dropped by almost 7%. TRX recovered on Saturday, pushing up marginally, but fell back in the red on Sunday, dropping by 0.37% and ending the weekend on a bearish note. The current session sees the price still at $0.079, albeit marginally down. 

Tron Price Chart Indicates Buyers And Sellers Struggling For Control 

The Tron price started the previous weekend on an extremely bullish note, as the price rose by 4.53% on Saturday and settled at $0.091. However, the price fell back on Sunday, dropping by 1.23% and settling at $0.090. Monday saw TRX continue to drop, as the price fell by almost 7%, slipping below the 200-day SMA and settling at $0.084. However, TRX recovered on Tuesday, rising back above the 200-day SMA after registering an increase of almost 3% and moving up to $0.087, before a marginal increase on Wednesday took the price up to $0.088.

Image: TRX/USD daily

Image: TRX/USD daily chart 122121

After pushing up to $0.088 on Wednesday, the Tron price fell back on Thursday, falling by over 3% and settling at $0.085. The price continued to drop on Friday, falling by almost 7%, slipping below the 200-day SMA and settling at $0.079. The weekend saw a marginal recovery, as TRX rose by 0.91% on Saturday before dropping back marginally on Sunday. The current session sees buyers and sellers struggling to control the session, with the price still at $0.079.

We can also see that the Parabolic SAR has flipped to bearish, indicating that the price could drop further.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 122121

Looking at the 4-hour Tron price chart, we see that TRX dropped to $0.083 on the 15th. The price pushed up significantly from this level, pushing beyond the 20-bar SMA and settling at $0.088. With the 20-bar SMA now acting as support, the price was able to stay at this level for the next few sessions before slipping back below the 20-bar SMA on the 16th. TRX continued to drop from this level and fell to $0.079 on the 18th. The price pushed up marginally from this level, rising to $0.081, but could not push beyond this level thanks to the 20-bar SMA and slipped back to $0.079.

We can see that the MACD is currently bullish, indicating that we could see the price push higher. However, if sellers retake the market, we could see it flip to bearish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that buyers and sellers are vying to control the current session. If buyers take control of the session, we could see TRX move back to $0.080, but if sellers retake the session, we could see TRX drop below $0.079.