TRX/USD Long-term Trend: Ranging
Supply zone: $0.03500, $0.04000, $0.04500
Demand zone: $0.01500, $0.01000, $0.00500
The long-term outlook of TRON remains in a range-bound market. The bears made an aggressive move downside after the bearish railroad on October 27th, with the crypto down in the demand area to $0.02180 on October 29th and $0.02140 on October 31st.
TRON (TRX) Price Today – TRX / USD
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On November 2nd, the 10-EMA was broken when TRXUSD rose in the supply area at $0.02323. With an increase in bearish pressure, the price at $0.02368 is testing the 50-EMA.
Price is above the 10-EMA but with the 50-EMA being tested, an indication of strong bullish pressure is revealed. The stochastic oscillator points up and is at 49% which gives a strong indication of an upward price movement within the range as the bullish momentum increases.
TRXUSD ranges and trades in the upper supply area between $0.02800 and at $0.02060 in the lower demand area of the range.
Before taking a position, traders are advised to wait for a breakout at the upper supply area or breakdown at the lower demand area with good reversal candle formation.
