Supply and demand zones for Tron (TRX)
Supply zones: $0.026, $0.028, $0.30
Demand zones: $0.024, $0.022, $0.020
Tron (TRX) Price Analysis: Medium-term
Tron (TRX) rallied to the north and reached the upper supply zone of $0.028 could not break out the supply zone of $0.028 as the price was pushed down with the formation of a bearish engulfing candle at the supply zone of $0.028. The bulls’ momentum was lost and the bears took over the market; this was confirmed by the formation of strong bearish candles at yesterday’s demand zone of $0.024. The price was able to break out of this zone downside.
As at present the coin broke the demand zone of $0.024 heading toward the lower demand zone of $0.022 with the 10-day EMA about to cross the 50-day EMA downward. The price is below the 10-day EMA and 50-day EMA. The stochastic oscillator 14 is above 20 levels and it signal lines points to the south, thus signaling a downward movement.
Should the price breaks down the demand zone of $0.022 it would expose the lower demand zone of $0.020.
Tron (TRX) Price Analysis : Short-term
Tron (TRX) is bearish in the short-term outlook. The market was bearish yesterday with the formation of strong bearish candles. It made a downward movement towards the demand zone of $0.024 and broke out downside with the formation of massive bearish candles. The price broke the yesterday’s demand zone of $0.024.
Currently, the Price is below the demand zone of $0.024 with the probability of moving further down to reach the lower demand zone of $0.022 in case it is not interrupted by the bulls’ momentum. The stochastic 14 is above the 35 regions with signal lines pointing toward the south indicates a sell signal.