TRX/USD Long-term Trend: Bearish
Supply zone: $0.04000, $0.05000, $0.06000
Demand zone: $0.02000, $0.01000, $0.00500
Tron continues in a bearish trend in the long-term outlook. The bullish candle that opens the week had little impact as price was briefly up to $0.0309 in the supply area. The bullish momentum was lost due to the formation of a bearish railroad at the area.
The bearish pressure was strong and this led to the break of the first key demand area and the cryptocurrency was down to $0.2700 in the demand area on 7th August.
The bearish momentum was sustained and a break of the second demand area occurred on 10th August and the coin was further down to $0.02176 in the demand area.
The bears' pressure may continue in the long-term and by the measured move from the first demand zone to the second demand zone, $0.2078 in the demand area may be the bears' target as the momentum increase and more bearish candles opened and closed below the two EMAs.
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