Key Highlights
- The TRX/USD pair price is currently at the key level, and it appears that the market could not break the current major demand zone at $0.023 because the price seems to have lost to follow through the bearish momentum.
- The buyers are coming into the market to activate their buy investment since the bears could no longer pilot the Tron to their desired critical level. The trend of this Token is a bearish market but the trend is already weak and the buyers are already defending the key level to their advantage.
TRX/USD Current Statistics
The market price at the press time: $0.0224
Total Market Cap: $1,502,787,025
Trading Volume in the last 24-hours: $473,854,716
Major supply zones: $0.040, $.070, $0.096
Major demand zones: $0.010, $0.006,$0.001
Tron Price Analysis July 31, 2019
Based on market price analysis, we could see the price forming a unique trading setup known as “Head and Shoulder” and if this setup valid we may see Tron (TRX) trending towards the upside in the next coming trading days.
The downtrend seems weak already because the buyers are already stepping into the market to make some investment trading buy decisions.
TRX Chart Indicators Reading
The Chart indicators of the TRX/USD pair are also showing that the downtrend is weak. The market price is currently resting at the key major zone, price forming a trading setup called Head and Shoulder at the above-mentioned zone and the bulls are expected to activate their investment buy decision at the zone.
The next immediate supply zone is located around $0.085, and if the Sellers fail to defend this zone, then the bull may continue to push the price to the next available supply zone at $0.1000
General Outlook for Tron (TRX)
Presently, the trend is resting at a confluence zone at $0.023 and if the bulls could not defend this zone then the market will continue pouring down in the next coming trading days.
Therefore it would be a good decision to wait for the next direction of the trend since the price is currently at the major significant zone.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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