- The Tron price is currently at $0.101, marginally down as buyers and sellers look to take control of the session.
- TRX registered a sharp fall on Monday, as it slipped below the 50-day SMA.
The Tron price has dropped marginally during the current session, as the price continued to drop with sellers looking to push the price to $0.100. TRX was quite bullish over the weekend, rising by 1.68% on Saturday, settling at $0.105. The price continued to push up on Sunday and ended the weekend at $0.106. However, the current week started with TRX registering a sharp drop of over 5% and settling at $0.101.
Tron Price Chart Indicates TRX Could Slip to $0.100
The Tron price started the previous weekend on a very bullish note, as it pushed up by almost 4% on Saturday. Sunday saw the bullish sentiment continue as TRX pushed up to $0.117 after registering an increase of over 4%. Monday saw an even bigger increase, as TRX pushed up by almost 6%, rising to $0.124. However, after reaching this level, the price turned bearish as it fell by over 11% on Tuesday, dropping to $0.110. TRX made a recovery on Wednesday, rising by 1.46%, but fell back in the red on Thursday, slipping below the 20 and 50-day SMAs and settling at $0.100 after dropping over 10%.
Image: TRX/USD daily
After dropping by over 10% on Thursday, the Tron price recovered on Friday, rising by almost 4%, pushing above the 50-day SMA and settling at $0.104. TRX continued to push up over the weekend, as it rose by 1.68% on Saturday and a further 0.94% on Sunday to end the weekend at $0.106. The week started on a bearish note, as the price dropped by over 5% on Monday, slipping below the 50-day SMA and settling at $0.101. The current session sees buyers and sellers vying for control, with the price marginally down.
We can see that the Parabolic SAR is currently bearish, indicating that the price could drop. However, if the price recovers, we could see it flip to bullish.
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Image: TRX/USD 4-hour
Looking at the 4-hour Tron price chart, we can see that TRX had slipped below the 50-bar SMA on the 16th, dropping to $0.107 on the 17th. The price pushed up from this level but could not get past the 50-bar SMA, which was acting as resistance, and dropped to $0.098, slipping below the 200-bar SMA. TRX pushed back up from this level, rising to $0.105, but could not stay above the 200-bar SMA and dropped to $0.103. With the 200-bar SMA acting as resistance, TRX could not get past this level until the 20th, rising above the 20 and 200-bar SMAs, rising to $0.109. However, the 50-bar SMA came into play at this level as resistance, and TRX price dropped drastically, slipping below the 20-bar and 200-bar SMA and dropping to $0.101.
We can see that the MACD is currently bearish, indicating the price could drop. However, if the price recovers, we could see it flip to bullish.
Tron Price Is Expected To Reach These Levels
Looking at the Tron price chart, we can see that buyers and sellers are struggling to control the current session. If sellers retain control, then we could see TRX drop below $0.100. However, if buyers gain control, we could see the price push past the 50-day SMA.