In the medium-term outlook, Tron price is a range-bound movement. Traders should be patient while waiting for a breakout or breakdown before taking a position.
The price of Tron continues in a range-bound movement in its medium-term outlook. The bearish trend was intense with the close of yesterday candle an inverted hammer at $0.02700. On April 19, the price declined to $0.02616 in the demand area.
TRX price is below the 2 Exponential Moving Averages (EMAs) crossover and the stochastic indicator signal pointing down at 17% which indicates a further downward trend in the price of Tron. The upper supply area is $0.02800 while the lower demand area of the range is $0.02550. Before taking a position, it is prudent for traders to exercise patience in anticipation of a breakout at the upper range or a breakdown at the lower range.
The TRXUSD pair is consolidating in its short-term outlook. TRX bears continue the journey down south shortly after today’s 1-hour opening Doji candle at $0.02698. The break of the 2 EMAs at $0.02695 further dragged the price down to $0.02620 in the demand area.
A slight pullback to the supply area of $0.02677 occurred but rejection for continue upward trend is visible around the 10-EMA. The price of TRX is below the 2 EMAs, which indicates strong seller presence in the short-term coupled which is confirmed by the stochastic indicator signal pointing down at 23%, which implies further downward trend of Tron price.
The TRXUSD pair is consolidating and trading between $0.02740 in the upper supply area and at $0.02601 in the lower demand area of the range. Before taking a position, it is prudent for traders to exercise patience in anticipation of a breakout at the upper range or a breakdown at the lower range.
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