TRXUSD Long-term Trend – Ranging
- Distribution territories: $0.035, $0.04, $0.045
- Accumulation territories: $0.02, $0.015, $0.01
The price of TRON’s TRX has recently managed to rebound from a January 13 low to enter a range between $0.3 and $0.25. The cryptocurrency has been trading within its range since.
The cryptocurrency has been seeing different rejections between the $0.35 and $0.3 marks, with its price trading close to the 14-day SMA, and with the 50-day SMA sitting close to the $0.25 mark.
The Stochastic Oscillators have crossed to point north within ranges 20 and 40. This implies now is a good time to set up long positions, although there are notable ranging movements in TRX’s price. The trend does appear to be more bullish than bearish.
Nevertheless, the bears may still take advantage of the market and force retraces during volatile upward movements.
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