TRON (TRX) Price Analysis – April 25

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Tron, TRXUSD,TRON chart by TradingView

TRX/USD Medium-term Trend: Bearish                               

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

TRON continues in a downtrend in its medium-term outlook. The bearish impulse move to the downside dropped TRX to $0.02300 in the demand area. This corrective move currently ongoing puts the cryptocurrency in a brief consolidation. This is necessary for market correction and to confirm the downtrend continuation.

Today’s 4-hour opening candle at $0.02360 closed as an inverted hammer an indication that the bears are back as price drops to $0.02539 in the demand area.

The price is below the two EMAs crossover an indication of more sellers presence. With the signal of the stochastic oscillator down at 14% in the oversold region. It suggests further downward movement in the price of the cryptocurrency as the bears’ pressure becomes strong in the medium-term.

 $0.02150 in the demand may be a target for the bears.

TRX/USD Short-term Trend: Bearish

   Tron, TRXUSD,TRON chart by TradingView

The cryptocurrency remains in a bearish trend in its short-term outlook. With the low of the day at $0.02300 in the demand area during yesterday’s session, the bears remained in control despite a bullish opening candle at $0.02330 earlier today.

The formation of a bearish marubozu candle at $0.02370 signaled the bear return as the price drops to at $0.02314 below the 10-EMA.

The signal of the stochastic oscillator points down at 38% with the price below the two EMAs. This implies downward momentum in price with TRX at $0.02225 in the demand area as an initial target.

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

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