Tron Technical Analysis: TRX Surges As It Pushes Past $0.125

Daily Tron Price Analysis

Last Updated November 16th 2021
3 Min Read
  • The Tron price surged at the start of the week, rising by over 7% during the current session. 
  • TRX has been extremely bullish since the weekend, with the current session seeing the price push past $0.125.

The Tron price has been extremely bullish, with buyers in control since the weekend. So far, the current session has seen an increase of over 7%. TRX had registered only a marginal drop on Friday, as the price fell by 0.44%. TRX surged over the weekend, registering an increase of almost 4% on Saturday and a further increase of 4.03% on Sunday to end the weekend at $0.117. 

Tron Price Chart Indicates TRX Could Push Towards $0.130 

The Tron price has been quite bullish over the past couple of weeks but had started the previous weekend on a bearish note, registering a marginal drop of 0.33% on Saturday. However, Sunday saw the price back in the green, as it pushed up to $0.105. TRX continued to push higher on Monday, as it registered an increase of 4.77%, rising to $0.110. The bullish sentiment persisted on Tuesday, as TRX rose by almost 4% to settle at $0.114 before falling on Wednesday, dropping by over 6% to settle at $0.107.

Image: TRX/USD daily chart 111621

Image: TRX/USD daily

After dropping to 40.107 on Wednesday, the Tron price recovered on Thursday, as it rose by 1.64% to settle at $0.108. However, the price dropped again on Friday as sellers pushed the price down marginally. The weekend saw another reversal as TRX rose by 3.96% on Saturday, before another increase on Sunday saw it push to $0.117, an increase of 4.03%. The current session has seen the price surge by over 7%, with the price currently at $0.125. We can see that the MACD and the Parabolic SAR are both bullish, indicating that the price could push higher.

Image: TRX/USD 4-hour chart 111621

Image: TRX/USD 4-hour

Looking at the 4-hour Tron price chart, we can see that after dropping below the 20 and 50-bar SMAs on the 6th and settling at $0.100, TRX had surged to $0.114, pushing back past the 20 and 50-bar SMAs. TRX pushed further to $0.116 before turning bearish, slipping below the 20-bar SMA and settling at $0.107. The 50-bar SMA acted as support at this level and pushed the price up to $0.109, but with the 20-bar SMA now acting as resistance, the price fell to $0.106. The price surged from this level, breaking past the 50 and 20-bar SMAs to push to $0.112 and then to its current level of $0.126. The Parabolic SAR and MACD are both currently bullish, indicating that the price could rise further.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX has been extremely bullish since the weekend, with the price up by over 7% during the current session. If the current sentiment persists, then we could see the price push to $0.130.