Tron Technical Analysis: TRX Drops To $0.084 On Monday, Pushes Back To $0.086

Daily Tron Price Analysis

Last Updated December 15th 2021
3 Min Read
  • The Tron price posted a recovery during the ongoing session, as TRX pushed back to $0.086. 
  • TRX had registered a sharp drop on Monday, falling by nearly 7% and settling at $0.084. 

The Tron price has pushed up to $0.086 during the ongoing session as buyers returned to the market. TRX had started the weekend on a reasonably bullish note, as the price pushed up by 4.52% on Saturday. However, TRX fell back on Sunday despite the positive start, dropping to $0.090. Monday saw TRX continue to drop, as the price registered a fall of almost 7%, dropping to $0.084, before recovering during the ongoing session. 

Tron Price Chart Indicates Buyers Looking To Push TRX To $0.090 

The Tron price started the previous week on a very positive note, with TRX registering an increase of 4.11%, pushing above the 200-day SMA and settling at $0.087 on Monday. On Tuesday, the price continued to push up as it rose to $0.089 before another increase of 3.13% on Wednesday pushed the price up to $0.092. However, after reaching this level, the price fell back on Thursday, dropping by over 4% and settling at $0.088. TRX remained in the red on Friday as well, registering a drop of 0.90%.

Image: TRX/USD daily chart 121521

Image: TRX/USD daily

After dropping to $0.086 on Friday, the Tron price recovered on Saturday, getting off to a positive start to the weekend. TRX rose by 4.52% on Saturday, pushing up to $0.091. However, Sunday saw the bearish sentiment return, as TRX dropped by 1.22% to end the weekend on a bearish note. The bearish sentiment persisted on Monday, as TRX dropped by over 6%, slipping below $0.090 and the 200-day SMA to settle at $0.084. The current session has seen a recovery, with the price currently up to $0.086.

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

Image: TRX/USD 4-hour chart 121521

Image: TRX/USD 4-hour

The 4-hour Tron price chart shows that TRX had pushed up to $0.091 on the 7th. At this level, the 50-bar SMA was acting as resistance, and the price could not move past this level until the 8th when it briefly pushed past the SMA to $0.093. The price could not stay at this level, and the price dropped back below the 20 and 50-bar SMAs on the 10th, falling to $0.088. The price pushed back above the two SMAs on the 10th, rising to $0.092, but fell to $0.087 on the 11th. TRX pushed back above the 20 and 50-bar SMAs from this level, pushing up to $0.091. This time, the price could stay at this level, thanks to the 20-bar SMA acting as support. However, TRX dropped below the two SMAs on the 13th, when the price fell to $0.084.

Currently, we can see that TRX is at $0.086, with the MACD bearish, indicating that we could see the price 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 TRX has recovered during the ongoing session. If the current sentiment persists, we could see TRX push to $0.090.