Tron (TRX) Price Analysis – Witnessing Further Upward Movement

2018-11-5 14:06

Distribution Territories: $0.024, $0.026, $0.028

Accumulation Territories: $0.023, $0.022, $0.021

TRX/USD Medium-term Trend: Bullish

TRX/USD is in a bullish trend. Yesterday, the strong bullish pressure after the formation of a bullish engulfing candle at the accumulation territory of $0.022 signaled the bulls return. Confirmation to the bulls’ takeover was seen as the next 4-Hour candle closed as a strong bullish candle above the two EMAs.

Increased bullish momentum led to the breaking of the former distribution level of $0.023. Yesterday’s high in the Tron’s market was the distribution territory of $0.024 as the bulls show exhaustion with a wick at the candle.

Today’s opening market candle is bearish showing the rejection of uptrend continuation at the distribution territory of $0.024 that may serve as a pullback. A pullback to the broken area is necessary for the market correction as this may guarantee uptrend continuation for the bulls to come back much stronger.

TRX is above the two EMAs, an indication of bullish pressure. However, the Stochastic Oscillator period 14 is at the overbought region at 80 levels with its signal lines points down indicates sell which may be a pullback. TRX may witness an upward price movement today in case the bullish momentum increase.

TRX/USD Short-term Trend: Bullish

TRX is bullish in the short-term. The return of the bulls was clearly seen on the 1-Hour chart as the bullish engulfing candle formed at the accumulation territory of $0.022 followed by many bullish candles yesterday. The 21-day EMA crossed the 50- day EMA confirming bullish pressure.

TRX price is above the two EMAs and the Stochastic Oscillator is closed to the oversold region with the signal lines points down which connotes sell signal which may be a pullback before TRX continues its uptrend movement.

The post Tron (TRX) Price Analysis – Witnessing Further Upward Movement appeared first on ZyCrypto.

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TRON (TRX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1171
Капитализация $0 Rank 99999
Цена в час новости $ 0.0230118 (-100%)

bullish trx accumulation 022 trend tron usd

Источник: zycrypto.com

bullish trx → Результатов: 38


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It’s no secret that Tron (TRX) investors have gone through some turbulence these past weeks as the token went on a decline, even at some point dipping below the major support threshold of $0.04. However, Tron now seems to be garnering quite some support as it rises again, signaling a possible bullish run that could […] The post Tron’s Dramatic Gain Indicates A Possible Bullish Reversal appeared first on ZyCrypto.

2018-7-1 00:17


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