TRXUSD Long-term Trend – Ranging

  • Distribution territories: $0.035, $0.04, $0.045
  • Accumulation territories: $0.015, $0.01, $0.005

The price of TRON’s TRX against the US dollar is currently moving within a specific range, which is close to its two SMA indicators. The 50-day SMA has been on the rise, and recently surpassed its 14-day SMA.

Tron, TRXUSDTron Chart by TradingView

This means that we may see more ranged movements in the near future. The Stochastic Oscillators are moving up and are now close to range 40, and since both SMAs are near the $0.025 mark, it could mean this is a critical point that’ll determine the market’s next direction.

Moreover, it could allow the bulls to build up strength before making a move, meaning traders may be about to have a good shot to go long in the market. Investors may also consider entering the market now.

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