- As buyers and sellers look to establish control, the Tron price is marginally down during the ongoing session.
- TRX has been extremely bearish in recent sessions and had dropped over 10% on Friday.
The Tron price is looking to make a recovery during the ongoing session, as TRX looks to move to $0.055 and move above that level. The weekend had started on a bearish note on Saturday, falling by nearly 7% and dropping to $0.056. However, the price recovered on Sunday as TRX moved up to $0.057 despite the prevailing bearish sentiment. TRX was back in the red on Monday, as the price dropped nearly 5% and settled at $0.055.
Tron Price Chart Indicates TRX Could Move Above $0.055
The Tron price started the previous weekend on a bullish note, rising by 1.48% on Saturday and then rising by nearly 2% on Sunday to end the weekend at $0.069. The price pushed back up on Monday, rising to $0.070. With the 20-day SMA acting as resistance at this level, the price fell back on Tuesday, dropping over 3% and settling at $0.068. TRX was able to register a marginal recovery on Wednesday, rising by 1.39%, but fell back into the red on Thursday, when the price dropped to $0.068.
Image: TRX/USD daily
The Tron price continued to drop on Friday, as sellers drove TRX down over 10%, with the price falling to $0.060. Saturday saw TRX continue to drop, falling by nearly 7%, slipping below $0.060, and settling at $0.056. Despite the bearish sentiment, TRX was able to register a marginal recovery on Sunday, rising by 1.58% and ending the weekend at $0.057. However, the price fell back in the red on Monday, dropping by nearly 5% and settling at $0.055. As buyers look to push the price back up, the current session sees TRX hovering between $0.054 and $0.055.
We can see that the MACD is currently bearish, but if the price recovers, we could see it flip to bullish.
Image: TRX/USD 4-hour
Looking at the 4-hour Tron price chart, we can see that TRX had dropped to $0.066 on the 19th. The price pushed up from this level, rising above the 50 and 20-bar SMAs and moving to $0.071. However, TRX turned bearish after reaching this level and dropped back below the two SMAs, falling to $0.065, and then to $0.054 on the 22nd. The price pushed up from this level, rising to $0.058 on the 23rd before dropping to $0.052 on the 24th. TRX was able to make another strong recovery from this level and rose to its current level of $0.054.
We can see that the MACD is currently bullish, indicating that we could see the price push higher.
Tron Price Is Expected To Reach These Levels
Looking at the Tron price chart, we see that buyers and sellers are looking to establish control during the ongoing session. If sellers retain the session, we could see TRX below $0.054. However, if buyers manage to take control, we could see XRP push above $0.055.