TRXUSD Long-term Trend – Ranging
- Distribution territories: $0.02, $0.024, $0.026
- Accumulation territories: $0.008, $0.006, $0.004
TRX’s price has been enduring a significant decline, market by various lower lows seen in the last few days. Most of the Japanese candlesticks on these lows ended up having a shadow either at the bottom or at the top.
The cryptocurrency’s ranging movements have seen it push southward past the $0.014 mark on December 6, while remaining within its range. The 14-day SMA is close to the $0.014 mark as TRX’s price keeps floating around it. The 50-day MSA is close to the $0.019 territory, over the 14-day SMA.
The Stochastic Oscillators have crossed and are now pointing south, around range 40. The indicator currently suggests TRX’s price may keep on going down against the US dollar in the next few trading sessions. If the $0.014 territory is broken the crypto may go down to the accumulation territory at $0.008.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
