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Medium-term TRX / USD trend: bearish
Supply areas: $ 0.02500, $ 0.02600, $ 0.02700
Application areas: $ 0.01000, $ 0.00900, $ 0.00800
TRX continues in a bearish trend in its medium-term prospects. The cryptocurrency is in a descending channel. The formation of a bearish reversed hammer at $ 0.1412 towards the end of yesterday's session around the top line of the channel forms a strong confluence for bear returns.
$ 0.1330 in the demand area was the starting point where bear pressure dropped the cryptocurrency as the momentum gradually increased.
The price is below the EMA crossover and the signal from the stochastic oscillator is indicating a strong indication of the downward price in the medium term. $ 0.01220 in the lower row of the channel remains the goal of the bears.
Short-term trend TRX / USD: bearish
Cryptocurrency has a downward trend in its short-term prospects. The bearish railway formed after today's opening at $ 0.01390 kept the bears in control while TRXUSD had dropped to $ 0.01334 in the demand area.
The increase in momentum led to a further fall in price to $ 0.01330. This was a pause after the fourth touch on the trend line.
The price is lower than the two EMA crossovers and the stochastic oscillator is in the 19% oversold region and its signal points downwards. It implies the downward movement of prices as bear pressure becomes much stronger in the short term.
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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