- The long-term outlook continues in the range.
- The bulls may have returned 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. The bears’ pressure continued dominance within the range with the break of the lower demand area at $0.02270.TRXUSD dropped further to $0.02237. The lower demand area was broken twice but closed within the range.
The bullish engulfing candle formed on 26th April was a signaled of the bullish comeback as price rose to price $0.02500 in the supply area.
With the signal of the stochastic oscillator pointing up at 30%. This suggests an upward 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.
Like what you read? Give us one like or share it to your friends