Medium-term TRX / USD trend: bearish
Supply areas: $ 0.02500, $ 0.02600, $ 0.02700
Required zones: $ 0.01400, $ 0.01300, $ 0.01200
TRX is in a bearish trend in its medium-term perspective. The strong bearish pressure of the large 4-hour bear opening candle at $ 0.01892 implies that the bears are back to continue their journey down after a brief loss of speed.
$ 0.01816 in the demand area was the initial low TRXUSD reached. The rising bearish momentum further lowered the price to $ 0.01658.
The price is lower than the two EMAs and the EMAs are fan-separated suggesting strength in the context of the trend and in this case the downward trend. The stochastic oscillator is located in the oversold region at 11% and its signal points down, which implies a downward momentum in price.
Short-term trend TRX / USD: bearish
The cryptocurrency continues in a bearish trend in its short-term prospects. The formation of the double maximum in yesterday's session was a sign for the gradual return of the bears. The marubozu candle at $ 0.01914 confirmed the full acquisition of bears.
With the increase in bearish moment, $ 0.01635 in the demand area was the low TRXUSD reached before the refusal to continue the downward movement.
The price is lower than the two EMA crossovers and the 10-EMA acts as a strong resistance to upward price movement. The stochastic oscillator in the region of oversold at 16% but its signal is turned towards the top. These suggest a short upward movement in prices before the bears return and continue their journey south in the short term.
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