Tron Technical Analysis: TRX Looks To Recover After Slipping Below $0.080 On Friday

Daily Tron Price Analysis

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Last Updated December 20th 2021
3 Min Read
  • The Tron price registered a significant drop of almost 7% on Friday. 
  • The drop saw TRX fall to $0.079, although the price has recovered over the weekend. 

After a bearish couple of days, the Tron price slipped below $0.080 on Friday. Although TRX had pushed up during the initial part of the week, it dropped on Thursday, dropping by over 3% and slipping below the 200-day SMA. Friday saw a drop of almost 7%, as TRX fell below $0.080 to $0.079. However, over the weekend, the price has recovered, registering a marginal increase of 0.91% on Saturday and up by almost 2% during the current session. 

Tron Price Chart Indicates TRX Could Push Towards $0.085 

The Tron price went into the previous weekend on a fairly bearish note, dropping by 0.90%. However, TRX recovered over the weekend, rising by 4.53% on Saturday. However, the price was back in the red on Sunday, falling by 1.23% and ending the weekend at $0.090. TRX continued to drop on Monday, as the price fell by almost 7%, slipping below the 200-day SMA and settling at $0.084. However, TRX could reverse this trend on Tuesday, as the price pushed up by almost 3%, moving back above the 200-day SMA and settling at $0.087.

Image: TRX/USD daily chart 122021

Image: TRX/USD daily

After moving up to $0.087 on Tuesday, the Tron price continued to push up on Wednesday, rising marginally by 1.07%. However, Thursday saw the price fall back, slipping by over 3%, and the 200-day SMA to settle at $0.085. TRX continued to drop on Friday, falling by almost 7% and settling at $0.079, before recovering over the weekend, pushing up by 0.91% on Saturday. Currently, the price is up by almost 2%, and if TRX continues to push higher, we could see the Parabolic SAR flip to bullish.

Image: TRX/USD 4-hour chart 122021

Image: TRX/USD 4-hour

Looking at the 4-hour Tron price chart, we can see that TRX had dropped to $0.084 on the 14th. The price made a strong recovery from this level, as it rose to $0.087 but could not push past the 20-bar SMA and dropped to $0.083. TRX pushed up significantly from this level, as it moved above the 20-bar SMA on the 16th, rising to $0.088. With the 20-bar SMA acting as support, TRX was able to stay at this level for the next few sessions before dropping below the 20-bar SMA and falling to $0.079 on the 18th. TRX pushed up marginally from this level, rising to $0.081, which is its current level.

We can see that the MACD has flipped to bullish, indicating that we could see the price push higher during the ongoing session.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we can see that TRX has made a recovery over the weekend. If the current sentiment continues, we could see the price push towards $0.085.