TRX/USD Long-term Trend: Bullish
Supply zone: $0.06000, $0.07000, $0.08000
Demand zone: $0.03000, $0.02000, $0.01000
Tron resumes in a bullish trend in the long-term outlook. The bears initially pushed price to $0.0377 in the demand area, this was the 61.8 fib level. The bulls did make a strong return at the 61.8fib level as predicted last week.
Price was pushed up to $0.04130 in the supply area. The bulls’ momentum was lost and the bears set in and price was pushed initially down to $0.03780 and later to $0.03600 in the demand area. This the second time price is at this demand area which is around the 61.6 fib level.
The bullish return may be seen once again at this reversal zone that will take price back up to the 100 fib level.
The stochastic oscillator is at 56 percent and its signal pointing up which implies upward momentum in price of the cryptocurrency as the bulls increase their presence and pressure.