Tron Technical Analysis: TRX Drops To $0.076 As Sellers Look To Control Session

Daily Tron Price Analysis

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Last Updated January 5th 2022
3 Min Read
  • The Tron price continued to drop during the ongoing session, as sellers look to push it down to $0.075.
  • TRX has been quite bearish since dropping below the $0.080 level last Tuesday. 

The Tron price has registered a marginal drop during the ongoing session, as sellers look to push the price further down. TRX had started the weekend on a bearish note, dropping by over 3% on Friday. The price picked up on Saturday, rising by 1.45%, and then pushed up by 1.58% on Sunday to end the weekend at $0.077. The price fell back on Monday, dropping by $0.63%, before dropping to $0.075 during the current week. 

Tron Price Chart Indicates TRX Could Slip Below $0.075

The Tron price started the previous weekend in the red, rising by 1.09% on Saturday. The price continued to increase on Sunday, ending the weekend on a positive note at $0.081. TRX remained at $0.081 on Monday before registering a sharp drop of over 5% on Tuesday, falling to $0.077. Wednesday saw TRX continue to drop, falling by 1.10% and settling at $0.076, before recovering on Thursday and rising to $0.077.

Image: TRX/USD daily

Image: TRX/USD daily chart 010522

The Ripple price fell back in the red on Friday, falling by over 3% and settling at $0.075. The weekend saw TRX make a strong recovery, as the price rose by 1.45% on Saturday and then rose by 1.58% on Sunday to end the weekend at $0.077. However, on Monday, TRX was back in bearish territory, falling by 0.63%, before dropping further during the ongoing session, with TRX currently at $0.076.

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

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 010522

Looking at the 4-hour Tron price chart, we can see that TRX had dropped to $0.076 on the 30th. The price made a strong recovery from this level, rising to $0.078. However, the price fell back from this level, dropping to $0.076. TRX was unable to move past the 20-bar SMA after rising from this level and fell back significantly, falling to $0.074 on the 31st. The price recovered from this level, rising to $0.076 and then pushing above the 20-bar SMA on the 2nd, rising to $0.077. With the 20-bar SMA now acting as support, TRX could stay at this level before dropping to its current level of $0.076.

We can see that the Parabolic SAR and MACD are both currently bullish, indicating that the price could move higher. However, if the price continues to drop, we could see them flip to bearish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has registered a marginal drop during the ongoing session. We could see the price drop to $0.075 if the current sentiment persists.