TRXUSD Long-term Trend – Bearish
- Distribution territories: $0.035, $0.04, $0.045
- Accumulation territories: $0.015, $0.01, $0.005
The price of TRX surged to a high of $0.035 on January 10, but the push didn’t last and it stayed at around $0.03 before its price started dropping.
The cryptocurrency wasn’t able to sustain the rise’s momentum and ended up correcting downwards. Its price is currently trading below the 14-day Sma, and the 50-day SMA is even lower.
The Stochastic Oscillators are pointing south at about range 40. The key trading zones are now between $0.025 and $0.015, as a strong reversal above the first could see the cryptocurrency move to once again test the $0.035 mark. Traders are advised to buy as close as possible to the 5’0-day SMA to go long.
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