TRX/USD Medium-term Trend: Ranging
- Supply zones: $0.03000, $0.04000, $0.04500
- Demand zones: $0.01000, $0.00900, $0.00800
TRX remain in a range-bound market in its medium-term outlook. After dropping TRXUSD at $0.02025 in the demand area shortly after opening, rejection to further downward movement occurred at the 10-EMA resulting in momentum loss. $0.02141 in the supply area was high the bullish pressure took the cryptocurrency before another bears takeover due to the bearish railroad formation.
With the price above the two EMAs and the stochastic oscillator signal going up at 65% the bullish pressure may be sustained within the range in the short-term
TRXUSD remains consolidation and trading between $0.02200 in the upper supply area and at $0.01880 in the lower demand area of the range. Traders should be patient for a breakout at the upper supply area for buy opportunities or breakdown at the lower demand area for sell opportunities in the medium-term outlook
TRX/USD Short-term Trend: Bullish
TRX is in a bullish trend in its short-term outlook. The upper supply area at $0.02084 of yesterday range was broken twice with $0.02143 in the supply area as the high of the day as the Bulls resume their north journey. A minor draw down to $0.02041 in the demand area occurred late yesterday closing below the broken area.
The pric eis back up the broken supply area at $0.02084 after the bulls resume a progressive journey up north.
The stochastic oscillator signal is pointing up 72% which implies upward momentum in price in the short-term.
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