TRX / USD Medium-term trend: variable
Supply Zones: $ 0.04000, $ 0.05000, $ 0.06000
Application areas: $ 0.01000, $ 0.00900, $ 0.00800
TRX remains in a market with a range of action in its medium-term perspective. $ 0.02334 in the demand area was the minimum reached by the cryptocurrency over the weekend, as bears dominate the market.
The bulls are taking control of the range with the formation of an engulfing candle at $ 0.02387 pushing TRXUSD to $ 0.02652 in the supply area. Furthermore, the signal of the stochastic oscillator points to 78%. It suggests the continuation of the upward price movement in the medium term.
TRXUSD is in the process of consolidation and trading between $ 0.02652 in the upper bidding area and $ 0.02298 in the lower demand area of the segment. Traders must wait for a break in the upper refueling area or a failure in the lower area with a new test before taking a position.
Short-term trend TRX / USD: bullish
The short-term perspective of TRX is a bullish trend. The strong bearish pressure was dominant over the weekend, as TRXUSD fell to $ 0.02334 in the demand area. This was the bottom line of the descending channel. The bullish railroad was a sign that the bulls are back.
Today's opening was however bearish, but the bullish pressure returned much stronger with a breakout from the top line of the channel. TRXUSD rose to $ 0.02580 as a trip to the north.
The signal of the stochastic oscillator points to 84% in the overbought region and to the price over the crossover of the two EMAs. These suggest an upward momentum in price, as more candles are formed and closed over short-term EMAs.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.