TRON (TRX)

TRON Price Prediction: Long-term (TRX) Value Forecast – July 21

Azeez Mustapha
July 21, 2019

• The bears remained in control of the long-term outlook.
• $0.02400 in the demand area is on the card.

TRX/USD Long-term Trend: Bearish

Supply zone: $0.0500, $0.06000, $0.000
Demand zone: $0.01000, $0.00800, $0.00600

Tron long-term outlook continues in a down-trending market. The key demand area at $0.02400 predicted as bears initial target in last week article was broken with a large bearish candle on 16th July. TRON plunges to $0.02038.

The bears lost momentum as the bulls returned was confirmed by the inside bar at $0.02090 of 17th July. The coin rose initially to $0.02810 breaking the 10-EMA and closed as a bullish marubozu on 19th July an indication of sustained rally.

$0.03017 in the supply area at the 50-EMA was the point of bullish exhaustion which is also at the trendline, the 61.8 fib area a trend reversal zone.

A bounce to the downside at the trendline may be expected in the day ahead with the bears' pressure becoming stronger with the support at the 10EMA broken.

$0.02400 in the demand area is a key demand area may be retested and subsequently broken as the bears continue the journey down south.

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

Azeez Mustapha

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.