TRON (TRX) Price Analysis (April 25)
• The medium-term outlook remains in consolidation while the short-term outlook is in a bullish trend market.
• The bulls may continue the journey to the upper resistance area.
TRX/USD Medium-term Trend: Ranging
• Resistance levels : $0.025, $0.028, $0.029
• Support levels: $0.007, $0.004, $0.001
Tron medium-term outlook remains in a range-bound market. The bulls’ exercise strong pressure at $0.013 in the resistance area during yesterday's session returns the cryptocurrency back within the range. TRXUSD moves up to $0.014 with an inverted pin bar candle in the resistance area before the close of yesterday's session, an indication of a trend reversal, hence bears’ brief return.
Today’s daily session opens with a bearish doji candle at $0.013 in the support area.
Price of Tron is initially down at $0.013 in the support area within the range.
Price hovers around the two EMA’s; this indicates an undefined trend in the context of the market.
The stochastic oscillator signal pointing up at around level 81% in the overbought region suggests the momentum in price of the coin may encounter a change in trend in the future in the medium-term.
TRON is ranging and trading between $0.026 in the resistance area and at $0.007 in the lower support area of the range.
Patience coupled with a retest is needed before a position is taken.
TRX/USD Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in its short-term outlook. The cryptocurrency is in an uptrend with bearish exhaustion at $0.013 in the support area.
Today’s 4-hourly candle at $0.013 opens on a bullish note at the resistance area with its wick below the EMA-9.
The gradual return from the bulls pushes the price up to $0.014 in the resistance area.
TRXUSD is initially down at $0.013 in the support area above the two EMA’s which are fanned apart. This indicates the momentum in price is in an uptrend.
The stochastic oscillator signal is pointing up at level 80% in the overbought region indicates an uptrend in the momentum of the price as the time of writing this article in the short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.