Tron price analysis (TRX): trends of 14-20 August 2018

TRXUSD continues its bearish movement in the long-term outlook, there should be caution and patience in taking positions as the price could reverse its upward movement if there is enough bullish pressure.

TRXUSD continues its bearish downward long-term outlook, there should be caution and patience in taking positions as the price could reverse its upward movements if there is enough bullish pressure.

Highlights

For traders and investors, TRX is now extremely cheap and attractive [19659005] Further selling pressures may still occur

However, the next rally will be significant when it occurs

TRXUSD long term: Bearish

Resistance levels: $ 0.02, $ 0.03, $ 0.04
Support levels: $ 0.01, $ 0.005, $ 0 TRXUSD continues its movement bearish in the long-term prospects. The strong bearish movement broke the former lower support level of $ 0.0230 and $ 0.0250. The pair fell further to the support level of $ 0.01. A candle from the bearish railroad track was formed last week by consolidation and brought the price below the 10-day EMA, which led to a further downward movement of the currency, indicating strong selling pressure . Big bearish candles are being formed every day confirming a further downward movement.

The price cut from the trendline below $ 0.01 could lead to a further decrease in the TRX price this week. The period 14 of the stochastic oscillator is already below the level of 10, which is a very deep level of oversold. In the event that the resistance level of $ 0.03 is broken upward, a bullish movement may be activated.

TRXUSD Price Medium-term trend: Bearish

Cryptocurrency is also very bearish in the medium-term perspective (just like the long-term trend). The currency pushed the lows down the inside of the price channel. The 50-day EMA remains above the 10-day EMA and the price remains below 10 days of EMA diverging from the 10-day EMA with a big bearish candle. Short exchanges are currently encouraged.

The stochastic oscillator is below level 20 and its signal lines point downwards. This shows a great possibility that the price will continue to be weak. There should be caution and patience in taking positions as the price could reverse its upward movement if there is enough bullish pressure.

The opinions and opinions expressed here do not reflect that of Coinspeaker.com and do not constitute financial advice. Always do your research. Analysis charts are provided by TradingView.

Disclaimer: The opinions and opinions expressed here do not reflect that of Coinspeaker.com and do not constitute financial advice. Always do your research. Analysis charts are provided by TradingView.

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