TRXUSD Long-term Trend – Bearish
Distribution territories: $0.024, $0.028, $0.032
Accumulation territories: $0.008, $0.006, $0.004
The value of TRON’s TRX against the US dollar has been dropping in the last few trading sessions. Barely over a week ago, the cryptocurrency was ranging between the $0.02 and $0.018 marks on November 15 and 18.
The $0.018 territory was breached southwards on November 19 and that saw the crypto drop to a low at the $0.012 mark on Nov. 20. The two SMAs are located above TRX’s price. The Stochastic Oscillators have dipped into the oversold zone to move in a consolidating pattern within it.
This could simply mean the bearish trend will go on. The $0.012 mark has now become an important one that will have to be broken for the bears to keep dragging TRX down. A sudden breakout above the $0.018 point could see the cryptocurrency get past various distribution territories, up to the $0.024 mark.
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