Tron (TRX) Long-term Price Analysis - January 13

Azeez Mustapha
  • The key trading zones are now between $0.025 and $0.015
  •  Traders are advised to buy as close as possible to the 5’0-day SMA to go long.

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.

Tron, TRXUSD, Cryptocompare chartTron Chart by TradingView

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.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.