Tron Technical Analysis: TRX Up Marginally But Unable To Push To $0.080

Daily Tron Price Analysis

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Last Updated December 31st 2021
3 Min Read
  • The Tron price has registered a marginal increase during the ongoing session, as buyers look to push the price to $0.080 
  • TRX had registered a sharp drop on Tuesday, falling by over 5%. 

The Tron price has recovered during the current session as buyers return to the market, looking to push the price to $0.080. TRX had started the week at $0.081 but fell back significantly on Tuesday, falling by over 5%. The price remained in the red on Wednesday, falling by just over 1%, before pushing up during the ongoing session. 

Tron Price Chart Indicates TRX Looking To Push To $0.080 

The Tron price started the previous week in the red, dropping by over 3% on Monday. On Tuesday, the price recovered, rising by 1.79% and settling at $0.078. However, the price fell back on Wednesday before pushing up by over 5% on Thursday and settling at $0.082. The price fell back on Friday, falling to $0.080, but recovered on Saturday, rising by over 1% and settling at $0.081 and then registering another marginal increase on Sunday.

Image: TRX/USD daily

Image: TRX/USD daily chart 123121

After registering a marginal increase on Sunday, the Tron price stayed at $0.081 on Monday before falling drastically on Tuesday, registering a drop of over 5% and settling at $0.077. The price remained in the red on Wednesday, dropping by 1.04%. However, the price has pushed up during the current session, with TRX back at $0.078.

We can see that the Parabolic SAR is currently bearish, but if the price continues to push up, we could see it flip to bullish.

Image: TRX/USD 4-hour

Image: TRX/USD 4-hour chart 123121

The 4-hour Tron price chart shows us that TRX had slipped below the 20 and 50-bar SMAs on the 26th, dropping to $0.079. The price pushed up from this level, pushing up significantly, moving back above the 20 and 50-bar SMAs and settling at $0.082. However, TRX could not stay at this level and fell back below the 20 and 50-bar SMAs, dropping to $0.077 on the 28th. The price rose to $0.079 and then dropped to $0.076 before moving to its current level of $0.078.

We can see that the Parabolic SAR has flipped to bullish, and if the price recovers, we could see the MACD flip to bullish as well.

Tron Price Is Expected To Reach These Levels

Looking at the Tron price chart, we see that TRX has pushed up significantly during the current session. If the current sentiment persists, we could see TRX push to $0.080.