TRX/USD Long-term Trend: Bearish

Supply zone: $0.03000, $0.03200, $0.03400
Demand zone: $0.01000, $0.00500, $0.0010

Tron long-term outlook continues is in a bearish trend. The strong bearish pressure  broke the predicted retest at $0.0160 effortless on 19th November as the cryptocurrency dropped to $0.01569 and went further down to close the week with a large bearish candle at $0.01208 in the demand area.

The new week opened at $0.01265 lower than last week opened at $0.01907. This implies that a bearish week may be witness again and the downward journey continued with the cryptocurrency bound to make another new low.

Furthermore, the second target at $0.01200 in last week analysis is already broken earlier this morning and the coin down to $0.01151 in the demand area.

Price remains below the two EMAs crossover and the EMAs are fanned apart which suggests strength in the context of the trend and in this case the downtrend. The stochastic oscillator is in the oversold region at 8% and its signal points down which suggest momentum to the downside as the bear pressure becomes much stronger.

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

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