TRXUSD Long-term Trend – Ranging

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

The price of TRX has recently dropped on February 24, as did various other cryptocurrencies. Right after, the cryptocurrency started moving within a range, characterized by lower lows seen below its 14-day SMA. The 50-day SMA is over the 14-day SMA, with a short space between them.

Tron, TRXUSDTron Chart by TradingView

The Stochastic Oscillators have been moving towards range 20, which suggests the bulls are building momentum between the $0.025 and $0.020 marks. These are currently the limits of the crypto’s trading range, and traders are advised to wait for a strong breakout above these to enter a position. As for investors, now may be a good time to enter the market.

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