Tron Price Prediction: TRX Unable To Recover, Stays At $0.085

Daily Tron Technical Analysis

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Last Updated December 16th 2021
3 Min Read
  • The Tron price could not make any significant movement, with the price unable to move past $0.085. 
  • TRX had risen by almost 3% on Tuesday, rising to $0.087. 

The Tron price fell back during the ongoing session, with the price down at $0.085. In line with the current drop, TRX had ended the weekend in the red on Sunday, dropping to $0.090. Monday saw an even more significant drop, with TRX falling by nearly 7% and settling at $0.084. The price pushed back up on Tuesday, rising by almost 3%, before dropping back during the ongoing session. 

Tron Price Chart Indicates TRX Could Recover From Current Level 

The Tron price started the previous week on a fairly positive note, as the price pushed up by 3.99%, moving above the 200-day SMA and settling at $0.087. TRX continued to push higher on Tuesday, rising to $0.089 and then moving up to $0.092 on Wednesday, after registering an increase of 3.16%. However, the price fell back on Thursday, dropping by over 4% to $0.088. TRX continued to drop on Friday, falling by 0.86% and settling at $0.087.

Image: TRX/USD daily chart 121621

Image: TRX/USD daily

After dropping to $0.087 on Friday, the Tron price recovered over the weekend, rising by almost 5% on Saturday. However, the price fell back in the red on Sunday, falling by 1.27% and settling at $0.090. The price continued to drop on Monday, falling by almost 7%, slipping below the 200-day SMA and settling at $0.084. However, the price was back in the green on Tuesday, rising to $0.087, before dropping back during the ongoing session.

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

Image: TRX/USD 4-hour chart 121621

Image: TRX/USD 4-hour

Looking at the 4-hour Tron price chart, we can see that TRX had pushed above the 20 and 50-bar SMAs on the 10th when the price rose to $0.092. However, the price could not stay at this level and dropped back below the two SMAs to $0.087. The price then pushed up from this level, pushing above the 20 and 50-bar SMAs and settling at $0.091. With the 20-bar SMA acting as support, TRX was able to stay at this level for the next few sessions before dropping back below the 20 and 50-bar SMAs on the 13th and dropping to $0.084 on the 14th. The price pushed up to $0.087 from this level before dropping to its current level of $0.086.

We can see that the Parabolic SAR and MACD have both flipped to bearish, indicating that the price could drop during the current session. However, if the price increases, they could flip back to bullish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has fallen marginally during the ongoing session. If the current sentiment persists, TRX could drop to $0.085, where the 200-day SMA could act as support.