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.



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

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