Supply zones: $0.04000, $0.05000, $0.06000
Demand zones: $0.01000, $0.00900, $0.00800

TRON returns to a bearish trend in its medium-term outlook. $0.02850 in the supply area and above the two EMAs was the high of the day as the bulls were shortlived due to exhaustion and because it is in the 50 fibs a trend reversal zone.

The bears returned gradually as TRXUSD dropped to $0.02740 in the demand area before the end of yesterday session.

With a bullish 4-hour opening candle at $0.02765 momentum to the upside is a pullback for the market correction before downtrend continuation.

The large bearish engulfing candle at $0.028550 confirmed the bears' full take over as TRXUSD dropped further down to $0.02578 in the demand area. This is within the 23.6 fibs.

With the stochastic oscillator at 40% and its signal pointing down which implies downward momentum $0.02539 in the demand area is probably as the bearish pressure becomes strong in the medium-term.

The cryptocurrency is in consolidation in its short-term outlook. The bears' pressure is strong within the range after today’s opening candle at $0.02803. although minor pullback occurred within the range.

The bears returned the cryptocurrency down at $0.02803 in the demand area toward the lower demand area.

Price below the two EMAs and the stochastic oscillator signal points in the oversold region at 17%, a minor push to the upside may occur before downtrend continuation within the range.

TRXUSD is in consolidation and trading between $0.02830 in the upper supply area and at $0.02620 in the lower demand area of the range. Patience must be exercised for a breakout at the upper supply area or breakdown at the lower area with a retest flowing with trend.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

149 +