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Price Analysis

📈 TRON (TRX) Price Analysis | Daily Price Analysis | October 16, 2018

Tron (TRX) Price Analysis

Tron (TRX) supply and demand zones:

Supply zones: $0.027, $0.30, $0.34

Demand zones: $0.024, $0.023, $0.022

Tron (TRX) Medium-term Price Analysis: Bullish

Tron Price Analysis | October 16, 2018

TRX is still bullish in its medium-term outlook. The formation of a bullish pin at the demand zone of $0.022 on the 4-hour chart, led to a sporadic uptrend movement by the market yesterday. The price was pushed to the supply zone of $0.30. The market returned to the demand zone of $0.025 by the bears which might serve as a retest to the market.

Increase pressure from the bulls will make the coin rally further to the north. In case the bears increase their momentum the coin may move to the south, breaking the demand zone of $0.025 downside and exposing the coin to the lower demand zone of $0.022.

The 10-day EMA has crossed the 50-day EMA upward. The price is above the 10-day EMA and 50-day EMA, indicating buy signal. The stochastic oscillator 14 is above 20 levels and its signal lines about point to the north, thus signaling an uptrend movement.

Tron (TRX) Short-term Price Analysis: Bearish

Tron Price Analysis | October 16, 2018

TRX is bearish in the short-term outlook. In the early hour of yesterday, TRX/USD made a bullish movement to the high level of supply zone, which shortly received a counter from the bears that brought the price back to the lower level of the demand zone.

The coin is on the demand zone of $0.025 with the probability of moving lower as the coin is below the10-day EMA and 50-day EMA below the price.

In case the bears increase their momentum. the coin may be pushed down to the demand zone of $0.022. The Stochastic Oscillator 14 is below the 40 regions. with signal lines pointing toward the south which indicates a sell signal.

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