Tron Technical Analysis: TRX Fails To Push To $0.095, Drops Towards $0.090

Daily Tron price Analysis

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Last Updated December 10th 2021
3 Min Read
  • The Tron price fell back during the ongoing session, as it dropped to $0.091.
  • TRX has made a strong recovery during the week and had pushed up to $0.092 on Wednesday. 

The Tron price fell back marginally during the ongoing session, as sellers managed to drive the price down to $0.091. TRX had started the week on an extremely bullish note, with the price rising by almost 4% on Monday. TRX continued to push up on Tuesday, rising to $0.089, before crossing $0.090 on Wednesday, when the price rose by 3.16% and settled at $0.092. However, the current session sees TRX back in the red, with the price presently down to $0.091. 

Tron Price Chart Indicates TRX Could Drop To $0.090 

The Tron price started the previous week on a fairly bullish note, rising by 2.12%. However, TRX fell back marginally on Tuesday and settled at $0.096 before another marginal drop on Wednesday. Thursday saw TRX recover, albeit only marginally, registering an increase of 0.60%. However, after reaching this level, the price fell back significantly on Friday, dropping by 2.88% and settling at $0.094. The bearish sentiment persisted on Saturday, with TRX seeing a more significant drop of almost 8%, with the price dropping to $0.087.

Image: TRX/USD daily chart 121021

Image: TRX/USD daily

After dropping by almost 8% on Saturday, the Tron price slipped below the 200-day SMA on Thursday, falling by 3.54% and settling at $0.084. TRX started the current week positively, rising by 3.99%, pushing back above the 200-day SMA, and settling at $0.087. Tuesday saw TRX continue to push up, rising to $0.089, before rising above $0.090 on Wednesday and moving to $0.092. However, the price fell back on Thursday and is currently down by over 1%, with sellers looking to push the price lower.

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

Image: TRX/USD 4-hour chart 121021

Image: TRX/USD 4-hour

The 4-hour Tron price chart shows that TRX had pushed up to $0.100 on the 3rd. After reaching this level, the price turned bearish and dropped back significantly, slipping below the 20 and 50-bar SMAs and dropping to $0.081 on the 4th. The price pushed up to $0.087 from this level but fell back to $0.081. TRX pushed above the 20-bar SMA on the 7th, when the price rose to $0.091. However, TRX could not move past this level until the 8th, when it rose above the 50-bar SMA to $0.093 before dropping to its current level.

We can see that the Parabolic SAR has flipped to bearish. The MACD, while still bullish, could flip to bearish if the price continued to drop.

Tron Price Is Expected To Reach These Levels

We can see that the Tron price has pushed up significantly during the current week, although the price has dropped during the ongoing session. If the current trend persists, TRX could drop to $0.90 before recovering.