TRXUSD Long-term Trend – Bullish
- Distribution territories: $0.026, $0.028, $0.03
- Accumulation territories: $0.012, $0.01, $0.008
TRON’s TRX has been going through an uptrend in the last few days. The cryptocurrency has been pushing north against the US dollar increasing its worth, and managed to break past its 50-day SMA on December 20.
On December 21, the cryptocurrency kept on surging and managed to get close to testing the $0.024 mark. Notably, in the last few trading sessions, the cryptocurrency first moved up against the 14-day SMA, but on November 28 its rise was rejected by the bears which saw it drop and trade along the 14-day SMA’s line. The 50-day SMA is located above the 14-day SMA.
The Stochastic Oscillators have crossed at range 80 to possibly consolidate around it. TRX is now expected to consolidate slightly above the price territories of $0.018 and $0.016 as these are foundations for the uptrend’s continuation.
A retracement cannot be ruled out for the cryptocurrency’s price, as well various ranging movements in the next few trading sessions.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.