TRXUSD Long-term Trend – Ranging

 

  • Distribution territories: $0.035, $0.04, $0.045
  • Accumulation territories: $0.02, $0.015, $0.01

TRON’s TRX hasn’t been able to keep its price going in a specifically defined direction, as it’s trapped within a range. On March 4, the cryptocurrency rose but soon fell once again.

TRON, TRXUSDTron Chart by TradingView

Another rise allowed TRX to touch the 14-day SMA. Its 50-day SMA is currently at about the $0.025 mar, while the 14-day SMA is underneath. The Stochastic Oscillators have crossed ranges 40 and 20, which signifies the market may keep on trading within its current range.

It’s likely the cryptocurrency will move down to $0.02, and then either rebound after touching said point. The 50-day SMA may be a good point for the cryptocurrency to break northward.

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