TRX/USD Medium-term Trend: Bullish
Supply zones: $0.02500, $0.02600, $0.02700
Demand zones: $0.01000, $0.00900, $0.00800
TRX is in a bullish trend in its medium-term outlook. The strong bullish pressure broke $0.1400 of the upper supply area of yesterdays range with a large bullish engulfing candle. TRXUSD went up to $0.1550 in the supply area. Increased momentum pushed price further up to $0.1600 as exhaustion gradually sets in and was confirmed by wicks in the candles.
The bearish railroad before the end of yesterday session was a correction to the impulsive move as TRXUSD dropped to $0.1440 in the demand area. Despite a bearish opening at $0.1495, the bulls showed signs of a return as price was up at $0.1400 earlier today.
Price is above the two EMAs a strong indication to the bullish pressure. The stochastic oscillator is in the overbought region at 80% and its signal points up. It suggests upward momentum in price as the bulls momentum increase in the medium-term
TRON Price Short-term Trend: Bullish
The cryptocurrency is in bullish trend in its short-term outlook. Increased bullish momentum push price up at $0.01600 in the supply area. The pullback by the bears dropped TRXUSD to $0.01440 in the demand area and closed as a bullish doji as yesterday session ended.
Price is above the two EMAs crossover and within the 23.6 fib level a trend continuation zone. The bullish pressure remains strong as long as price is within the 23.6 and 38.2 fib level.
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