Tron Technical Analysis: TRX Recovers, Pushes To $0.065

Daily Tron Price Analysis

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Last Updated January 13th 2022
3 Min Read
  • The Tron price has registered a marginal recovery during the ongoing session, pushing to $0.065.
  • TRX has been quite bearish lately and had started the week with a drop of nearly 4%. 

The Tron price is currently up by nearly 1% as buyers look to push TRX above $0.065. TRX was quite bearish over the weekend, dropping by almost 4% on Saturday. However, the price recovered on Sunday, rising to $0.066. Monday saw the return of the bearish sentiment, as TRX fell by 3.85% and settled at $0.063 before recovering on Tuesday and rising to $0.064. The current session sees the price marginally up, as buyers look to push above $0.065. 

Tron Price Chart Indicates TRX Could Push Above $0.065 

The Tron price was quite bearish during the previous week, starting off with a marginal drop on Monday. TRX continued to drop on Tuesday, falling by nearly 2% and settling at $0.075. Wednesday saw an even more significant drop, as TRX dropped by nearly 6%, dropping to $0.071, and then registering a marginal drop on Thursday that saw the price fall to $0.070. TRX could not reverse the bearish trend on Friday, as the drop continued, falling by 3.62% and settling at $0.068.

Image: TRX/USD daily

Image: TRX/USD daily chart 011322

After dropping to $0.068 on Friday, the Tron price continued to drop over the weekend, registering a drop of almost 4% on Saturday and settling at $0.065. Despite the prevailing bearish sentiment, TRX was able to register a marginal increase on Sunday, rising by 1.06% and settling at $0.066. TRX fell back in the red on Monday, dropping nearly 4% to $0.063 before recovering on Tuesday and rising to $0.064 after an increase of 2.15%. The current session sees TRX at $0.065, and if the price continues to push higher, we could see the MACD flip from bearish to bullish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 011322

Looking at the 4-hour Tron price chart, we can see that TRX had pushed up to $0.069 on the 8th. The price could not stay at this level and registered a sharp drop, falling to $0.064, before recovering and rising to $0.066. TRX continued to push higher from this level, as it rose to $0.067 on the 9th. Here the 20- bar SMA was acting as resistance. As a result, TRX fell back to $0.065 and then to $0.062 on the 10th. TRX made a strong recovery from this level, rising above the 20-bar SMA and moving to its current level of $0.066.

We can see that the Parabolic SAR is currently bearish, but if the price continues to push higher, 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 over the past couple of sessions. If the current bullish sentiment persists, we could see the price push above $0.065.