Tron (TRX) Price Analysis – February 18

click here to see original post
  • The short-term outlook is bullish while the medium outlook is in consolidation
  • Responsible buying in the short-term may be considered.

Tron, TRXUSD, Cryptocompare chartTron chart by tradingview

TRX/USD Medium-term Trend:Ranging                                 

  • Supply zones: $0.04000, $0.05000, $0.06000
  • Demand zones: $0.01000, $0.00900, $0.00800

TRON is in a range-bound market in its medium-term outlook. The weekend saw the cryptocurrency in consolidation with $0.02454 in the supply area as the high while $0.02390 in the demand area was the low attained.

The 4-hour candle of today’s session at $0.02414 was bullish with the price already up at $0.02469 in the supply area. The price is above the 10-EMA and the stochastic oscillator signal pointing up at 65%. These suggest the bulls may sustain the upward momentum in price within the range in the medium-term.

XLMUSD is consolidation and trading between $0.02541 in the upper supply area and at $0.02362 in the lower demand area of the range. A breakout at the upper supply area may be considered for a long position after a retest while a breakdown at the lower demand area may be a short position with good bearish candlestick pattern as confirmation.

TRX/USD Short-term Trend: Bullish

 Tron, TRXUSD, Cryptocompare chartTron chart by tradingview

 The cryptocurrency is in a bullish trend in its short-term outlook. The bulls are back after the breakout at the two EMAs crossover at $0.02407 before the end of yesterday. Today opened at. $0.02417 with TRXUSD already up at $0.02469 in the supply area.

The bulls may sustain the pressure as indicated by the price above the two EMAs and the stochastic oscillator signal pointing up at 72%.

The bulls initial target is $0.02500 at the supply area as the bullish pressure becomes strong and more candles formed above the EMAs crossover.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Related Articles

Share !
Uncategorized