- The Tron price dropped significantly during the current session, as sellers pushed the price below $0.100.
- TRX has been quite bearish during the week and had dropped over 5% on Monday.
The Tron price registered a sharp drop during the ongoing session, as sellers took control and pushed the price below $0.100. TRX has been bearish all week, despite ending the weekend in the green on Sunday when it rose to $0.106. Monday saw TRX drop to $0.101 as it slipped below the 50-day SMA. The price recovered on Tuesday, rising by 1.68%, but fell back during the current session, with TRX currently down by over 4%.
Tron Price Chart Indicates TRX Could Drop To $0.095
The Tron price started the previous week on an extremely bullish note, as it rose by almost 6% and settled at $0.124. However, after reaching this level, the price turned bearish, dropping by a staggering 11.30% on Tuesday and settling at $0.110. Despite the prevailing bearish sentiment, TRX posted a recovery of 1.46% on Wednesday but fell back on Thursday, dropping below the 20-day and 50-day SMAs and settling at $0.100. TRX pushed up from this level, as it pushed up to $0.104, moving back above the 50-day SMA on Friday.
Image: TRX/USD daily
The Tron price continued to push up over the weekend, as it rose to $0.105 on Saturday. Sunday saw a further increase as TRX rose by 0.94% and ended the weekend at $0.106. However, The current week saw TRX slip back into the red, falling by over 5%, slipping below the 50-day SMA, and settling at $0.101. On Tuesday, the price pushed back, rising to $0.103, but fell back on Wednesday, slipping below $0.100, and is currently down by over 4%.
We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further.
Image: TRX/USD 4-hour
The 4-hour Tron price chart shows us that TRX had dropped to $0.098 on the 19th when it slipped below the 200-bar SMA. TRX pushed up from this level, rising to $0.105, but could not push past the 200-bar SMA and dropped to $0.102. TRX pushed back up from this level, rising above the 20-bar and 200-bar SMAs and moving to $0.108 before slipping back below the 20 and 50-bar SMAs and settling at $0.103. After reaching this level, the price could not push past $0.104, with the 20-bar and 200-bar SMAs acting as resistance. As a result, TRX dropped to $0.100 and then to its current level of $0.098.
We can see that the Parabolic SAR is currently bearish, indicating that TRX could drop further.
Tron Price Is Expected To Reach These Levels
Looking at the Tron price chart, we can see that TRX has registered a sharp fall during the current session. If the current sentiment persists, we could see the price drop to $0.095.