Tron (TRX) Price Analysis – January 25

  • The bulls continue their dominance of both the medium and short-term outlook.
  • Responsible buying at pullback areas may be considered.

Tron, TRXUSD, Cryptocompare chartTron chart by tradingview

TRX/USD Medium-term Trend: Bullish                                  

  • Supply zones: $0.04000, $0.05000, $0.06000
  • Demand zones: $0.01000, $0.00900, $0.00800

TRON continues in the bullish trend in its medium-term outlook. The bullish pressure was sustained throughout yesterday session as TRXUSD rose from $0.02665 of the opening to $0.02767 in the supply area as the high of the day A minor correction to the downside occurred as the bears returned with a drop in price to $0.02700 in the demand area.

The support at the 10-EMA was not broken as the bears lost momentum around this area. This return the bulls for upward price movement in the short-term.Moreover the flag (F3) will return the bulls after the bearish exhaustion.

The two EMAs are fanned apart which suggest strength in the context of the trend and in this case the uptrend.

$0.03000 in the supply area remain the bulls target as the bullish momentum increase in the medium-term.

TRX/USD Short-term Trend: Bullish

 Tron, TRXUSD, Cryptocompare chartTron chart by tradingview

TRON is in a bullish trend in its short-term outlook. The bulls held on to the control of the market as the price forms higher highs and higher lows that are characteristic features of an uptrending market. TRXUSD attained new high each day since 21st January. Yesterday, 24th January, the high of the day was 0.02767 in the supply area.

A new high is most probable as the trading session continues today with the price above the two EMAs and the stochastic oscillator signal points up at 45%. This suggests upward momentum in the price of the cryptocurrency as the bullish pressure becomes much stronger in the short-term.

 

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