Tron Technical Analysis: TRX Looks To Push To $0.100 As Price Recovers After Marginal Drop

Daily Tron Price Analysis

By
Last Updated December 2nd 2021
3 Min Read
  • The Tron price has pushed up during the ongoing session, with the price currently at $0.097. 
  • TRX has been quite bullish since the start of the week, pushing up significantly since the weekend. 

The Tron price has been quite bullish since registering a significant fall on Friday when it fell by over 8%. The price pushed up over the weekend, rising by 1.24% on Saturday and then over 2% on Sunday to settle at $0.095. The bullish sentiment continued on Monday, with TRX rising to $0.097 before registering a marginal fall on Tuesday. The current session sees TRX back at $0.097, with buyers in control. 

Tron Price Chart Indicates TRX Could Push To $0.100 

The Tron price was quite bullish during the previous weekend, as the price rose by 1.68% on Saturday and then by 0.94% on Sunday to settle at $0.106. On Monday, the price turned bearish as it slipped below the 50-day SMA and settled at $0.101 after dropping by over 5%. Although the price did recover on Tuesday, rising to $0.103, it fell back on Wednesday, dropping by 4.56% and settling at $0.098. TRX pushed back up on Thursday, rising to $0.100, but then registered a drop of over 8% on Friday as sellers pushed the price down to $0.091.

Image: TRX/USD daily chart 120221

Image: TRX/USD daily

Despite the bearish sentiment on Friday, the Tron price pushed up over the weekend, as it rose by 1.24% on Saturday and then by 2.19% on Sunday, settling at $0.095. TRX continued to push on Monday, starting the week on a positive note, before dropping marginally on Tuesday and dropping to $0.096. However, the price recovered on Wednesday and is currently at $0.097, with buyers controlling the session.

We can see that the Parabolic SAR is currently bearish, indicating that the price could drop. However, if the price continues to push higher, we could see it flip to bullish.

Image: TRX/USD 4-hour chart 120221

Image: TRX/USD 4-hour

The 4-hour Tron price chart shows us that TRX had dropped to $0.097 on the 24th. The price pushed up from this level, rising to $0.100, but with the 20-bar SMA acting as resistance, dropped to $0.091 on the 26th. TRX pushed up to $0.094 from this level, but again, it could not move past the 20-bar SMA and fell back to $0.090. The price recovered from this level, as it pushed above the 20-bar SMA and rose to $0.095 before continuing to push higher and moving above the 50-bar SMA on the 30th. With the 50-bar SMA now acting as support, TRX maintained this level and is currently at $0.097.

We can see that the MACD is currently bullish; however, if the price drops, we could see it flip to bearish.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has made a fairly strong recovery during the ongoing session. If the current sentiment is maintained, we could see the price push towards $0.100.