• The cryptocurrency is in consolidation in the long-term outlook.
• Traders should patiently wait for a defined trend before taking a position.

TRX/USD Long-term Trend: Ranging

Supply zone: $0.0500, $0.06000, $0.07000
Demand zone: $0.01000, $0.00800, $0.00600

Tron long-term outlook is a range-bound market. The bears confirmed their dominance in last week trading session with a large bearish marubozu candle at $0.03526 on 30th June as the cryptocurrency dropped to $0.03169.

The bear pressure was stronger within the days with a further push of price to $0.03050 in the demand area on 2nd July.

Attempts by the bulls to hold on to the market is been resisted by the 50-EMA as price shot up to $0.03301 on 6th July closing the week with a gravestone doji as the coin consolidates.

Price is hovering with the two EMAs with the signal of the stochastic oscillator parallel at 23% which suggest undefined trend currently in place within the range with proper clarity to occur as momentum builds up in the days ahead.

$0.03800 is the upper supply area of the range while $0.03000 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a clear retest before taking a position.

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