Medium-term TRX / USD trend: bearish
Supply areas: $ 0.02800, $ 0.02900, $ 0.03000
Required areas: $ 0.01700, $ 0.01600, $ 0.01500
TRX is in a bearish trend in its medium-term perspective. The bulls had a slight retracement with the cryptocurrency of up to $ 0.02380 in the area requested on October 27, but were rejected at the 50-EMA. The return of the bears was signaled by the inverted hammer, but full confirmation occurred on October 27, when a large marubozu bearish candle formed by TRXUSD fell to $ 0.02339 in the demand area.
The bulls gradually return while the inversion candle pattern has formed around the demand area. TRXUSD rose to $ 0.02365 in the supply area above 10-EMA. These calls are necessary for the correction of the market before the continuation of the downward trend.
Bears made a strong comeback with a bearish marubuzo at $ 0.02352 with TRXUSD initially dropped to $ 0.02293. The next candle sustained the downward momentum while the cryptocurrency dropped further to 2180 in the demand area.
With the candles open and closed below the EMA, $ 0.02101 in the demand area can be retested by the bears in the medium term.
Short-term trend TRX / USD: bearish
Cryptocurrency has a downward trend in its short-term prospects. After the TRXUSD returned $ 0.02397 in the supply on October 27th, the depletion stabilized due to the loss of the bullish momentum.
Furthermore, a rejection occurred in the upper line of the descending channel. The same contact on the line above $ 0.02364 in the supply area of the downward channel occurred today after the opening.
The bears' return was much stronger when the price fell to $ 0.02180 in the demand area at the bottom of the channel.
There may be a slight uptrend that is supported by the 26% stochastic oscillator with the upside-down signal that implies an upward movement in price, but this may be short because the pressure of the Bear remains strong for the continuation of the downward trend.
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