TRXUSD Long-term Trend: Bearish
Supply zone: $0.9000, $0.1000, $0.1100
Demand zone: $0.0500, $0.0400, $0.0300
Tronix’s long-term outlook is once again bearish. The bullish run from April 8 kept gradually fading until April 30, with the bearish railway track formation. The price was pushed high to the $0.10000 supply zone for the bulls but they lost control of the market to the bears.
The bears’ pressure was strong as they broke key demand zones at $0.09000, $0.08000, $0.07000 and $0.06000. The cryptocurrency’s is below the EMAs, which connotes bearish pressure. The formation of a bullish railway means that the bulls are gradually coming back.
The Stochastic Oscillator is in the oversold region with its signal pointing up. This shows upward momentum. A bullish move will be seen in Tronix as the week goes by, but this is likely a pullback for downtrend continuation. Rejection at the EMAs and key supply zones is probable
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