- The long-term outlook continues in consolidation.
- The bears’ pressure remained strong within the range.
TRX/USD Long-term Trend: Ranging
Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook continues in a range-bound market. Price was rejected at $0.02772 in the supply area while the bulls attempt to continue upward price movement. TRXUSD was down to $0.02581 in the demand area on 15th April. This was the low of the week as the bulls stage a pullback within the range.
Although price was up at $0.02740 in the supply area on 18th April, the daily candle closed as an inverted hammer an indication of bears takeover after the bullish exhaustion.
Price is below the 10-EMA and the stochastic oscillator signal points down at 17%. This suggests further downward movement in the cryptocurrency within the range in the long-term.
TRXUSD is in consolidation and trading between $0.02800 in the upper supply area and at $0.02270 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Cryptocurrency Prices: Live Real-Time Coin Market Cap Values