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TRX/USD Long-term Trend: Bullish
Supply zone: $0.03500, $0.04000, $0.04500
Demand zone: $0.01500, $0.01000, $0.00500
Tron long-term outlook is a bullish trend. The bullish pressure from 12th October at 2099 after the bullish railroad remains strong. TRXUSD was initially pushed $0.02494 in the supply area on 15th October.
Increased bullish momentum led TRXUSD to $0.02798 in the supply area before the upward rejection due to the bears' returns.
The pullback dropped the cryptocurrency at $0.02420 in the demand area around the two EMAs on 19th October.
Price is above the two EMAs an indication of bullish pressure while the stochastic oscillator is at 52% and its signal points up which implies upward price movement due to bullish stronger pressure in the long-term.
A retest of $0.02788 in the supply area may occur as more candle opened and closed above the EMA crossover. This will be the 4th touch at this point. A breakout is probably as the journey to the moon commences.
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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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.