Tron (TRX) supply and demand zones:
Supply zones: $0.026, $0.028, $0.30
Demand zones:Â $0.024, $0.022, $0.020
Tron (TRX) Medium-term Price Analysis: Ranging
TRX is ranging in its 4-hour chart. The cryptocurrency started consolidating on the 4-Hour chart since October 19 when the coin reached the demand zone of $0.024. The bears lost pressure and the bulls as well did not have enough momentum to push the TRX price up. The coin has since entered a consolidation phase.
Continuation of the bears’ momentum will break the demand zone of $0.024 and bring the coin to its low at the demand zone of $0.022. In case this low demand zone holds and the price bounces back, the pair will find its high in the supply zone of $0.026 and $0.028.
TRX is on the 4-day EMA and 50-day EMA, with 10-day EMA and 50-day EMA interlocked indicating an ongoing consolidation. The stochastic oscillator 14 is below 50 levels and its signal lines point to the south indicating a sell signal.
Tron (TRX) Short-term Price Analysis: Bearish
On 1-Hour chart, the cryptocurrency pair is bearish. The bears are pushing the coin towards the demand zone of $0.024. In case the bears increase their momentum, the coin may be pushed to break the demand zone of $0.04 and expose TRX to the demand zone of $0.022.
The price of TRX is below the 4-day EMA and 50-day EMA, which indicates that the price is falling. The Stochastic Oscillator 14 is below 25 levels (oversold level) with signal lines pointing toward the south, which indicates a sell signal and that it may be a while before the price reverses.
