Tron Price Prediction: TRX Surges Towards $0.070

Daily Tron TRX Technical Analysis

By
Last Updated February 9th 2022
3 Min Read
  • The Tron price pushed above the 20-day SMA during the current session, registering a marginal increase. 
  • Buyers and sellers are struggling to take control of the session, with TRX looking to push to $0.070. 

The Tron price is marginally up during the ongoing session, as buyers continued to push the price higher. TRX had started the weekend on a positive note after moving to $0.064 on Friday and then registering a marginal increase on Saturday. Sunday saw TRX continue to push higher, rising by nearly 2% and ending the weekend at $0.066. Monday saw TRX continue its upward trajectory, rising by over 3% and moving to $0.068. 

Tron Price Chart Indicates Buyers Looking To Push TRX To $0.070 

The Tron price was quite bullish over the previous weekend, rising by over 5% on Saturday. However, the price fell back on Sunday, dropping by 2.52% and settling at $0.058. Monday saw TRX recover, as it registered an increase of 0.87% and then increased by 1.21% on Tuesday to move to $0.060. However, TRX fell back again from this level, dropping by over 2% on Wednesday and settling at $0.058.

Image: TRX/USD daily

Image: TRX/USD daily chart 020922

Despite the drop on Wednesday, the Tron price made a strong recovery on Thursday, rising by 2.34% and moving to $0.060. Friday saw a significant push from TRX as it surged past the 20-day SMA and moved to $0.064 and then registered a marginal increase on Saturday to settle at $0.065. TRX continued to push higher on Sunday, ending the weekend at $0.066 and then starting the week in the green, moving to $0.068 on Monday. The current session sees TRX marginally up as buyers look to push the price higher.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 020922

The 4-hour Tron price chart shows that TRX had pushed up to $0.060 on the 2nd. The price fell back after reaching this level, dropping back below the 20-bar SMA and falling to $0.058. With the 20-bar SMA now acting as resistance, TRX could not move past this level until the 4th, when the price pushed back above the 20-bar SMA and moved to $0.063. TRX continued to push higher from this level, going past the 200-bar SMA and rising to $0.065. The price fell back after reaching this level, dropping to $0.065, before recovering and moving to its current level of $0.069.

The Parabolic SAR and MACD are both bullish, but we could see them flip to bearish if the price drops.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that buyers and sellers are struggling to take control of the current session. If buyers manage to take control, we could see TRX push to $0.070; however, if sellers are able to take control. TRX could drop towards $0.065.