Tron Technical Analysis: TRX Pushes To $0.081 After Marginal Increase

Daily Tron Price Analysis

By
Last Updated December 28th 2021
3 Min Read
  • The Tron price registered a marginal increase during the current session, as buyers and sellers look to establish control. 
  • TRX has been relatively bullish in recent sessions and had registered a significant increase on Thursday. 

The Tron price has started the current session on a positive note, although buyers and sellers are looking to establish control, with TRX currently sitting at $0.081. TRX had registered a significant increase on Thursday, as it rose to $0.082. However, it fell back on Friday, dropping by 2.43% and settling at $0.080. The weekend saw TRX recover by 1.09% on Saturday and then register a marginal increase on Sunday to settle at $0.081. 

Tron Price Chart Indicates Buyers And Sellers Struggling For Control 

The Tron price entered the previous weekend on a very bearish note, dropping by nearly 7% on Friday. Saturday saw a marginal recovery, but the price fell back on Sunday, registering a marginal drop and settling at $0.079. TRX continued to drop on Monday, falling by over 3% and settling at $0.077, but recovered on Tuesday, rising by 1.79% and settling at $0.078. However, the price fell back in the red on Wednesday, registering a marginal drop.

Image: TRX/USD daily

Image: TRX/USD daily chart 122821

After Wednesday’s marginal drop, the Tron price registered a significant increase on Thursday, rising by over 5% and settling at $0.082. Despite the bullish sentiment, the price fell back on Friday, dropping by 2.43% and settling at $0.080. The weekend saw TRX back in the green, as TRX rose by 1.09% and settled at $0.081. The price managed to stay in the green on Sunday, registering a marginal increase, before registering a marginal increase in the ongoing session. We can see that the Parabolic SAR is currently bearish. However, if the price continues to increase, we could see it flip to bullish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 122821

The 4-hour Tron price chart shows that TRX had pushed up to $0.077 on the 20th. The price continued to increase from this level, pushing above the 20-bar SMA on the 22nd and then settling at $0.080. The price fell back from this level, dropping below the 20-bar SMA and settling at $0.080. At this level, the 50-bar SMA acted as support, and the price rose to $0.081 before dropping back below the 20 and 50-bar SMAs and settling at $0.079. The price pushed back up from this level, rising back above the 50 and 20-bar SMAs and moving to its current level of $0.080.

We can see that the MACD is still bullish, but if the price drops, we could see it flip to bearish.

Tron Price Is Expected To Reach These Levels

The Tron price chart shows us that buyers and sellers are vying to control the current session. If buyers retain the session, we could see TRX push above $0,081. However, if sellers retake the session, the price could drop below $0.080.