TRON (TRX) Long-Term Price Forecast

Supply zone: $0.02500, $0.03000, $0.03500
Demand zone: $0.01500, $0.01000, $0.00500

TRON enters into consolidation in the long-term outlook. The strong bearish pressures from 18th August was sustained leading to further drop in the cryptocurrency from $0.02456 in the supply area.

TRON price was down to $0.1900 in the demand area on 22nd August. $0.02257 in the supply area above the 10-day EMA was the new high the cryptocurrency attained on 25th August as the bulls stage a comeback within the range.

The stochastic oscillator is at 65% and its signal points up. This implies we may witness an upward momentum in the price of the cryptocurrency due to bullish pressure as it consolidates.

TRON is in the ranging and trading between $0.02416 in the upper supply area and at $0.01839 in the lower demand area of the range. Patience should be exercised and ensure a breakout at the upper supply area or breakdown at the lower demand area occur before taking a position.

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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