Tron price analysis (TRX) – 19 November

Tron Chart of TradingView

TRON Price Medium-term trend: bearish

Supply areas: $ 0.02500, $ 0.02600, $ 0.02700
Required zones: $ 0.01400, $ 0.01300, $ 0.01200

TRX remains in a bearish trend in its medium-term outlook. The dominance of the bear market was evident with the rejection of the bulls' comeback on November 18, when TRXUSD had risen to $ 0.01941 in the supply area and closed the session with a bearish railway. The big bearish engulfing candle at $ 0.01892 opened today's session while TRXUSD dropped initially to $ 0.01816.

The price is lower than the two EMAs and the EMAs are fan-separated suggesting strength in the context of the trend and in this case the downward trend. The stochastic oscillator is in the 12% oversold region and its signal points down, which implies a downward momentum in price.

Bears continue to dominate the market, but a minor descent to the trend line could occur during the descent.

Short-term trend TRX / USD: bearish

Tron Chart of TradingView

Cryptocurrency has a downward trend in its short-term prospects. The formation of a bearish marubozu candle suggests further pressure from the bears. The price is lower than the two EMA crossovers with the stochastic oscillator in the oversold region at 4%. These suggest a further downward movement in prices in the short term, with bears staging a strong return to push the price to the south.

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