TRX / USD Medium-term trend: bullish
Supply areas: $ 0.02800, $ 0.02900, $ 0.03000
Required areas: $ 0.01700, $ 0.01600, $ 0.01500
TRX has a bullish trend in its medium-term prospects. The bullish pressure at the close of trading on October 16 remains intact despite the drawdown at $ 0.02430 in the area requested on October 17 after the opening of the trading session.
The return of the bulls was at the level of fib 50.0 a zone of inversion of tendency. TRXUSD rose to $ 0.02639 in the supply area. This was a shift to the fib level at 23.6 a trend continuation zone before a pullback to $ 0.02470 in the demand area while the session ended yesterday.
The $ 4.2495 bullish uprising opening candle sustained the bullish momentum with TRXUSD at $ 0.02558 in the supply area after today's opening. The price is around 10-EMA but the signal of the stochastic oscillator rises to 34%. The implication is an upward movement in prices due to the medium-term bullish pressure.
TRX / USD Short-term trend: variable
The cryptocurrency is placed in a market related to the range in its short-term perspective. After a price drop of $ 0.02424 in the demand area that created the double bottom indicated by the arrows, the bulls made a return.
The TRXUSD has risen to $ 0.02639 in the supply area due to the bullish pressure, but lacks the momentum needed to rise further from the bear acquisition. The cryptocurrency had fallen to $ 0.02470 in the requested area while the session ended yesterday.
The price is higher than 10-EMA and the stochastic oscillator is not defined at 35%, which reflects the consolidation scenario.
TRX is in the process of consolidation and trading between $ 0.02600 in the upper bidding area and $ 0.02400 in the lower demand area of the segment. A breakout may occur in the upper refueling area or a failure in the lower area, so you need to be patient to allow this to happen before a position is taking a good reversal candle as confirmation.
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