Tron (TRX) Price Analysis – February 13

  • The short-term outlook is in a bullish trend while the medium-term is in a range-bound market.
  • Traders may consider buying at key areas with bullish candle candlestick pattern.

Tron, TRXUSDTron chart by tradingview

TRX/USD Medium-term Trend: Ranging                                

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

TRON remains in a range-bound market in its medium-term outlook  The bears' pressure was at $0.02464 in the demand area after the formation of a bullish gravestone - an indication of the bulls' presence. TRXUSD was up at $0.02490 in the supply area before the end of yesterday session.

The bullish momentum was sustained after today's opening with a break at the 10-EMA/ TRXUSD was up at $0.02560 in the supply area shortly after opening.

The stochastic oscillator signal points up at 28% an indication of upward momentum within the range.

TRXUSD is ranging and trading between $0.02800 in the upper supply area and at $0.02450 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence traders should be patient.

TRX/USD Short-term Trend: Bullish

Tron, TRXUSDTron chart by tradingview

The cryptocurrency is in a bullish trend in its short-term outlook. The bearish pressure was lost at $0.02455 in the demand area. This was the low of the day as the bulls staged a return breaking the 10-EMA asTRXUSD rose to $0.02476 in the supply area.

The bullish momentum was sustained after today’s opening with increased momentum as the price was up to $0.02560 at the key supply area. 

The bears brief return to $0.02467 in the demand area was a correction as the bulls may continue the journey up north to the key supply area.

The stochastic oscillator signal points up and the price is above the 10-EMA an indication of upward momentum in price 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.