Published
5 years ago on
October 22, 2018
“More buyers with an increase in pressure are needed in the market to increase the TRX price to the distribution territory of $0.026, break the territory and expose it to the distribution territory of $0.028. Should the bears increase their momentum and break the accumulation territory of $0.024 the coin will find its low at the accumulation territory of $0.022.â€TRX is below the 10-day EMA and 50-day EMA with the stochastic oscillator 14 above the 20 levels and its signal lines point down, which is suggesting a downward trend. At the time of writing, the price has seen more a bearish look towards the demand zone of $0.024 on the short term with more bearish signs suggesting that the price of TRX is slowly but surely, falling. Essentially, at this time bears were gradually taking over the market. The price is currently below the dynamic support of 10-day EMA and the 50-day EMA but the two EMAs aren’t as well separated suggesting that consolidation is on-going. Just in case the bears get their strength back and put the pressure back on the break of the demand zone of $0.024 downside, then the price will be exposed to the lower demand zone of $0.023. The Stochastic Oscillator is currently above 20 levels with its signal lines seem to be aiming towards the south which suggests a sell signal. On CoinMarketCap, TRON is in the red with a loss of 1.18% and is priced around $0.024 at the current time of writing. What are your thoughts? Let us know what you think down below in the comments!
