Supply zone: $0.03000, $0.03500, $0.04000
Demand zone: $0.01500, $0.01000, $0.00500
Tron is in a bearish trend in its long-term outlook. The bullish pressure was lost on 1st September when momentum was lost and the 50-EMA could not be broken.
The bears gradually set in and the cryptocurrency was initially down to $0.02444 in the demand area below the 10-EMA on 3rd September. With the increased bearish momentum, the lower line of the ascending channel was broken with a large bearish marubozu candle. This may signal the beginning of the journey south.
The coin as seen a low of $0.01980 in the demand area. The bears’ target in the long–term is shown by two critical demand zones at $0.01931 and $0.01603.
The stochastic oscillator is in the oversold region at 13 % and its signal points down. This implies downward momentum in the price of the cryptocurrency just as the bearish pressure becomes strong.