Tron price analysis (TRX) – 12 November


/ Ultima / 2018/11 / tron-TRX-price-analysis-November-12 /

Tron price analysis (TRX) – 12 November

tron-trx money-analysis-Nov-12

  • The bears maintain control over the medium and short-term prospects.
  • Traders can try to sell with a good turnaround of bearish candles as confirmation.

TRX, TRXUSD, Cryptocompare graphTron Chart of TradingView

Medium-term TRX / USD trend: bearish

Supply areas: $ 0.02800, $ 0.02900, $ 0.03000
Required areas: $ 0.01700, $ 0.01600, $ 0.01500

TRX continues in a bearish trend in its medium-term prospects. The bulls attempt an upward price movement was rejected at the EMA. The 10-day EMAs act as a resistance, particularly on 11 November. The bears' return was signaled by the inverted bear hammer. With the increase in momentum, the bears continue the beautiful journey to the south with the break at the level of 61.8 degrees. TRXUSD fell to $ 0.02261 in the demand area on the same day.

The short bullish withdrawal brought the price back to $ 0.02292 at the end of the day and shortly after today's opening, as TRXUSD rose to $ 0.02315 in the procurement area. The closing of the candle like another bearish downside hammer brought the bears to a stronger pressure. The price is currently down to $ 0.02243 with room for further downward moves.

The price is lower than the two EMA and goes towards the fib level 78.2 The stochastic oscillator is at 27% and its downward signal point suggesting a downward movement in prices due to the pressure of the bears in the medium term.

A break and close below the 78.2 fib level can open the gate for a 100% retracement to $ 0.02140 in the medium term required area.

Short-term trend TRX / USD: bearish

TRX, TRXUSD, Cryptocompare graphTron Chart of TradingView

The cryptocurrency in a bearish trend in its short-term perspective. The strong pressure of the bear reached its first goal at $ 0.02240 in the demand area after today's first day. This implies that the next bear minimum target at $ 0.02200 could be reached shortly in the demand area.

The price is lower than the two EMAs and the stochastic oscillator in the oversold region at 13%, with the signal pointing downwards. This suggests a continuation of the journey downwards while the bears increase their momentum.

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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