Tron Technical Analysis: Can TRX Push Above $0.080 During Current Session

Daily Tron Price Analysis

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Last Updated December 23rd 2021
3 Min Read
  • The Tron price is looking to move above $0.080 during the current session and is currently at $0.079. 
  • TRX was quite positive on Tuesday and had pushed up by almost 2%. 

The Tron price is looking to push above $0.080 during the ongoing session, as buyers and sellers look to control the session. TRX was quite bearish over the weekend, even though it had registered a marginal increase on Saturday. On Sunday, the price was back in the red as TRX fell back marginally before falling by over 3% on Monday. Tuesday saw TRX post a strong recovery, as the price rose by almost 2%, moving to $0.078. 

Tron Price Chart Indicates Buyers And Sellers Looking To Establish Control  

The Tron price started the previous weekend on a fairly positive note, rising by almost 5% on Saturday. However, TRX fell back in the red on Sunday, dropping by 1.23% and settling at $0.090. TRX continued to drop on Monday, dropping by almost 7%, slipping below the 200-day SMA and settling at $0.090. The price recovered on Tuesday, pushing back above the 200-day SMA and settling at $0.087, before rising further on Wednesday and settling at $0.088.

Image: TRX/USD daily

Image: TRX/USD daily chart 122321

After rising to $0.088 on Wednesday, the Tron price fell back on Thursday, dropping by over 3% and slipping back below the 200-day SMA to settle at $0.085. The price continued to drop on Friday, falling by almost 7% and settling at $0.079. Despite the bearish sentiment, TRX registered a marginal increase on Saturday before falling back on Sunday and settling back at $0.079. Monday saw TRX continue to drop by over 3% before rising by 1.76% on Tuesday and settling at $0.078. The current session sees buyers and sellers struggling to control the session, with the Parabolic SAR currently bearish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 122321

The 4-hour Tron price chart shows us that TRX had risen to $0.088 on the 16th, pushing above the 20-bar SMA. After reaching this level, the price fell back, dropping below the 20-bar SMA and settling at $0.079 on the 18th. TRX pushed up marginally from this level, rising to $0.081 before turning bearish and dropping to $0.075. TRX rose to $0.077 from this level and then moved to its current level of $0.079.

We can see that the Parabolic SAR and MACD are both currently bullish, indicating that we could see the price push higher.

Tron Price Is Expected To Reach These Levels

The Tron price chart shows that buyers and sellers are looking to control the current session. If buyers retain control, we could see TRX push to $0.080, but if sellers retake control, the price could drop to $0.075.