Tron (TRX) Price Analysis – January 24
coinspectator -
Tron chart by tradingview TRX/USD Medium-term Trend: Bullish Supply zones: $0.04000, $0.05000, $0.06000 Demand zones: $0.01000, $0.00900, $0.00800 TRX is back in a bullish trend in its medium-term outlook. The bullish pressure successfully broke the upper supply area of yesterday's range at $0.02722 and pushed further up to $0.02767 in the supply area before the loss of momentum due to the formation of a bearish spinning top. The bearish momentum was low as TRXUSD dropped to $0.02642 in the demand are.

Today’s opening candle at $0.02722 is a bullish pin bar an indication of the bulls gradual return. A flag denoted by (F1 and F2) was created which is a pullback due to the bears' pressure but the bulls return after exhaustion continued the upward price movement. $0.03000 in the supply area may be retested as the bullish momentum becomes stronger in the medium-term.

TRX/USD Short-term Trend: Bullish Tron chart by tradingview TRX short-term outlook is a bullish trend. The strong bullish pressure within the range broke the upper supply area of the range yesterday and took TRXUSD up to $0.02767 in the supply area. The price may retest the broken supply area to confirm the uptrend continuation in the short-term as the divergence between the price and the stochastic oscillator implies that the bulls will continue the journey up. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

read more