TRXUSD Long-term Trend – Ranging
- Distribution territories: $0.035, $0.04, $0.045
- Accumulation territories: $0.015, $0.01, $0.005
TRX’s price has been seeing lower lows and lower highs in past week. The cryptocurrency, against the US dollar, has failed to push northwards as the $0.30 mark remains intact.
XRP’s price has seen the 50-day SMA get closer and closer to the 50-day SMA, which is currently above it. The crypto’s price itself is below both SMAs. The Stochastic Oscillators dipped into the oversold zone,, and have seen both lines cross within it, which could mean the crypto is seeing more ranging movements in the future.
If the 50-day SMA managed to surpass the 14-day SMA, it could affirm the bears’ presence in the market. There are three main price points to watch: $0.3, $0.25, and $0.2. Traders are advised to watch out for a strong price movement before entering a position.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.