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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 trip to the south looks pretty good and is a continuum as the strong pressure from the bears broke the 50-EMA on November 8 after a fall in the TRXUSD price to $ 0.02337 in the demand area.
The 50-EMA test occurred on November 9th and 10th with a minimum of $ 0.02287 and $ 0.02291 respectively.
The 4 hour opening candle at $ 0.02298 closed as a bearish pinbar reversed a signal to the bears. TRXUSD lost $ 0.02233 in the requested area.
The price is lower than the two EMAs and goes to the 27% stochastic oscillator and its downward signal point suggesting a downward movement in prices due to bear pressure over the medium term.
Short-term trend TRX / USD: bearish
The cryptocurrency in a bearish trend in its short-term perspective. The bullish pressure was lost in the upper channel line down after the opening at $ 0.02316 in the supply area when the candle closes as a bearish pinbar.
TRXUSD fell to $ 0.02233 around the demand area. The bulls could go back, but the bears' recovery could push the cryptocurrency towards the lower line of the canal. This implies that the next bear minimum target at $ 0.02200 could be reached shortly in the demand area.
The price is below the two EMA's an indication of strong bear pressure. This suggests a continuation of the journey downwards while the bears increased their momentum.
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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