Tron (TRX) Daily Price Forecast – November 19th

TRON Accelerator opens a million dollar contest for the development of decentralized applications

Medium-term TRX / USD trend: bearish

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

TRX is in a bearish trend in its medium-term perspective. The strong bearish pressure of the large 4-hour bear opening candle at $ 0.01892 implies that the bears are back to continue their journey down after a brief loss of speed.

$ 0.01816 in the demand area was the initial low TRXUSD reached. The rising bearish momentum further lowered the price to $ 0.01658.

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 located in the oversold region at 11% and its signal points down, which implies a downward momentum in price.

Short-term trend TRX / USD: bearish

The cryptocurrency continues in a bearish trend in its short-term prospects. The formation of the double maximum in yesterday's session was a sign for the gradual return of the bears. The marubozu candle at $ 0.01914 confirmed the full acquisition of bears.

With the increase in bearish moment, $ 0.01635 in the demand area was the low TRXUSD reached before the refusal to continue the downward movement.

The price is lower than the two EMA crossovers and the 10-EMA acts as a strong resistance to upward price movement. The stochastic oscillator in the region of oversold at 16% but its signal is turned towards the top. These suggest a short upward movement in prices before the bears return and continue their journey south in the short term.

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

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