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 downward channel because bears keep the market under control.
After the bearish railway hit the canal's top line on November 24, the bears staged a strong comeback that brought the cryptocurrency to $ 0.01110 in the demand area on November 25, before losing momentum.
TRXUSD rose to $ 0.01323 on the top line of the downward channel due to bullish pressure. A rebound is very likely because this is the second touch. Bears show a sign of arrival while the price is gradually coming down south.
The bottom line of the channel could be the initial goal of bears in the demand area, as the price is below the two EMA, an indication of bear pressure over the medium term.
TRX / USD Short-term trend: variable
The cryptocurrency is in consolidation in its short-term perspective. The strong bearish pressure that the price dropped to $ 0.01158 in the $ 0.01426 demand area in the supply area weakened when the candle closed like a bullish hammer.
The complete acquisition of the bulls was confirmed after the bullish candle closed above 10-EMA. TRXUSD was at $ 0.01323 in the supply area. The lack of momentum to sustain the upward trend has led to refusal in the supply area and subsequently to the gradual decline in the price of cryptocurrency as it enters the short-term range.
The price is below the two EMA an indication to bear pressure. The stochastic oscillator is at 24% but its signal is pointing downwards. This further confirms the downward momentum in the short-term range.
TRXUSD is the consolidation and trading between $ 0.01322 in the upper bidding area and $ 0.01155 in the lower demand area of the segment. Patience is the key during this period. A breakout in the upper supply area or a breakdown in the low demand area is imminent, but traders should allow this to happen before taking a position.
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