TRXUSD Long-term Trend – Bearish

  • Distribution territories: $0.04, $0.045, $0.05
  • Accumulation territories: $0.02, $0.015, $0.01

TRON’s TRX has been seeing its price decline against the US dollar in the last couple of days. On April 8, the cryptocurrency saw its value go up to around $0.031, but on the next day it quickly corrected to $0.025.

TRON, TRXUSDTron Chart by TradingView

The 50-day SMA is located under its 14-day SMA. The Stochastic Oscillators point south and are at range 40, which indicated the cryptocurrency could soon experience new ranging movements.

The bulls are losing their strength around the 50-day SMA. It could currently be risky to enter a position, which means traders are advised to wait for a strong price action that shows how the market is going to move next.

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