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Medium-term TRX / USD trend: bearish
Supply areas: $ 0.02500, $ 0.02600, $ 0.02700
Required areas: $ 0.01100, $ 0.01000, $ 0.00900
TRX remains in a bearish trend in its medium-term outlook. The bullish pressure manages a boost of $ 0.01527 in the refueling area that was the maximum of the day. The rejection of a further upward movement occurred at 10-EMA while the candle closes like an inverted downward hammer.
This made the bears return phase and pushed the cryptocurrency to $ 0.01420 in the demand area, which became the low part of the day as the session ended with a bullish candle at $ 0.01427. This formed a bullish railroad.
The 4-hour spark plug at $ 0.01492 could not sustain the bullish momentum as it closes bearish with TRXUSD currently down to $ 0.01447 in the demand area.
The TRX structure is a symmetrical triangle. The price is below the two EMA's an indication of strong pressure from the bear. The signal of the 45% stochastic oscillator points down which suggests a downward movement in the price of cryptocurrency and a possible break in the lower trend line.
TRX / USD Short-term trend: variable
The cryptocurrency remains in a restricted market range in its short-term prospects. Bulls and bears are struggling for control within the interval. $ 0.01527 in the supply area was the highest level of bullish pressure that took the cryptocurrency before it gradually weakened.
$ 0.01420 in the area of demand was the low pressure of the bears dropped TRXUSD as the minimum of the day. The session ended with a certain bullish momentum.
The 1-hour candle to $ 0.01459 has been bullish as the price rose to $ 0.01495 in the supply area briefly before the bears took over and pushed the prices currently to $ 0.01447 in Demand area with a marubozu downward candle.
TRXUSD is the consolidation and trade between $ 0.01546 in the upper supply area and $ 0.01331 in the lower demand area of the segment. Traders should expect a break in the upper supply area or a breakdown in the lower demand area before taking a short-term position.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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