Tron (TRX) supply and demand zones:
Supply zones: $0.026, $0.028, $0.30
Demand zones:ย $0.025, $0.022, $0.020
Tron (TRX) Medium-term Price Analysis: Ranging
The bears were in control of the market as TRON moved gradually below the demand zone of $0.025 two days ago. The bears lost the pressure and could not push the market down beyond where it was. Likewise, the bulls have no momentum to move the price up. The cryptocurrency started to consolidate. On the 4-Hour chart, the coin is ranging at demand zone of $0.025.
Increased pressure from the bulls will make the coin to rally further to the north which may break the supply zone of $0.026 and expose $0.028.
In case the bears increase their momentum the coin will move to the south break the demand zone of $0.022 downside and expose the coin to the lower demand zone of $0.020.
The coin is on the 4-day EMA and 50-day EMA, bending toward each other connotes further consolidation movement. The stochastic oscillator 14 is on 50 levels and its signal lines showing unstable direction indicate ranging market.
Tron (TRX) Short-term Price Analysis: Ranging
On 1-Hour chart the cryptocurrency pair is still ranging. The consolidation started here three days ago and both bears and bulls are yet to have enough pressure to move the market from this zone. In order to make this market rally, a fundamental event may be required. The coin is on the demand zone of $0.025 with the two EMAs interlocked to each other.
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 above the 50 regions with signal lines pointing toward the south which indicates a sell signal.
