Tron Technical Analysis: TRX Drops Below 20-Day SMA, Could Fall To $0.105

Daily Tron Price Analysis

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Last Updated November 19th 2021
3 Min Read
  • The Tron price fell back in the red during the current session, down by over 4%. 
  • TRX had posted a minor recovery on Wednesday, as the price pushed up by 1.49%. 

The Tron price continued to drop during the current session as sellers pushed the price below the 20-day SMA. TRX had started the current week on a bullish note, as the price pushed up by almost 6% on Monday to settle at $0.124. However, the price fell back on Tuesday, with TRX falling by over 11%, as the price dropped to $0.110. Wednesday saw the price recover, as TRX rose to $0.111 before falling back during the current session.  

Tron Price Chart Indicates TRX Could Drop To $0.105 

The Tron price had started the previous week on a positive note, as the price pushed up by almost 5% on Monday. Tuesday saw TRX continue to increase, as the price rose by almost 4% and settled at $0.114. However, on Monday, the price fell back as sellers pushed the price down by over 6%, with TRX settling at $0.107. On Thursday, the price recovered, moving up to $0.108, but fell back on Friday, dropping by 0.44%. However, the weekend started on a bullish note for TRX, as the price pushed up to $0.112 on Saturday.

Image: TRX/USD daily chart 111921

Image: TRX/USD daily

After pushing up to $0.112 on Saturday, the Tron price continued to push up on Sunday, rising by 4.03% to end the weekend at $0.117. The price continued to push up on Monday, rising to $0.124, before registering a staggering fall of over 11% on Tuesday and dropping to $0.110. Despite the bearish sentiment, TRX posted a recovery on Wednesday, as the price recovered by 1.49% before falling back in the red during the current session.

We can see that the Parabolic SAR has flipped to bearish, indicating that the price could drop further during the current session.

Image: TRX/USD 4-hour chart 111921

Image: TRX/USD 4-hour

The 4-hour Tron price chart shows us that TRX had dropped below the 20 and 50-bar SMAs on the 12th. However, the price posted a stunning rally from this level, as buyers pushed the price back above the 20 and 50-bar SMAs, with the price initially settling at $0.112. The price continued to rise from this level, as it surged to $0.128 but turned bearish after reaching this level. The price fell significantly, slipping below the 20-bar SMA and settling at $0.113. TRX then slipped below the 50-bar SMA as sellers pushed the price down to $0.107. TRX pushed up from this level, as the price reached $0.113, but with the 50-bar SMA acting as resistance, dropped to its current level of $0.107.

We can see that the MACD is currently bearish, indicating that the price could drop further.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has slipped below the 20-day SMA during the current session. If the price continues to drop, we could see it stabilize at around $0.105.