- The bulls remain dominant in the long-term outlook.
- Minor correction may occur at $0.04083 in the supply area before the bullish continuation
TRX/USD Long-term Trend: Bullish
Supply zone: $0.0800, $0.1000, $0.1200
Demand zone: $0.01000, $0.00800, $0.00600
Tron long-term outlook continues in a bullish trend. $0.03319 in the supply area predicted in last week analysis was hit on 27th May as the bulls stage a strong comeback.
The cryptocurrency rose to $0.03651 in the supply area before the bear took control of the market after the formation of a bearish doji on 28th May.
The bears dropped price to $0.2969 in the demand area and created a unique bullish flag on 30th May but a breakout to the upside occurred with an engulfing candle as price ended the week on a bullish note with price at $0.03928.
With price already up at $0.04083 in the supply area above the two EMA a retest of the area, the cryptocurrency was last year July 29th.
The bulls may sustain the momentum to the upside in the long-term as confirmed by the signal of the stochastic oscillator pointing up at 76%.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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