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TRX / USD Medium-term trend: bullish
Supply Zones: $ 0.04000, $ 0.05000, $ 0.06000
Application areas: $ 0.01000, $ 0.00900, $ 0.00800
TRX continues in an uptrend in its medium-term outlook. The bulls made a nice turn to the north with a strong pressure with a new test of the key supply area at $ 0.03000 and ended the day with a bullish Marubozu candle while TRXUSD was at $ 0.03143 in the 39; refueling area.
The bullish pressure was lost shortly after the opening, when TRXUSD rose to $ 0.03584 in the refueling area, due to the formation of a bearish top, with the gradual return of the bears.
TRXUSD had fallen to $ 0.02876 in the required area at 10-EMA. There may be two scenarios for a bullish return. Firstly, the bulls may return from the 10-EMA and resume the uptrend, while the second option is that bear pressure may continue to push into the key demand area before a possible upturn in the uptrend.
Short-term trend TRX / USD: bullish
TRX continues in an uptrend in its short-term outlook. The bullish pressure was strong as the cryptocurrency reached a new high at $ 0.03028 in the supply area before the loss of momentum. Bears record a return as TRXUSD fell to $ 0.02800 in the required area before the end of yesterday's session.
Today's opening saw the bulls come back on stage with a big bullish candle at $ 0.02870, with the TRXUSD rising initially to $ 0.030430 and subsequently to $ 0.03143 due to increase in the bullish momentum.
The bears are back as an overturned hammer was formed as TRXUSD drops to $ 0.02861 in the required area. This activity is necessary for the correction of the market before the continuation of the uptrend.
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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