Tron (TRX) Daily Price Forecast – November 22

2018-11-22 13:46

 

TRX/USD Medium-term Trend: Bearish

Supply zones: $0.02500, $0.02600, $0.02700
Demand zones: $0.01100, $0.01000, $0.00900

TRX remains in a bearish trend in its medium-term outlook. The bullish pressure manages a push to $0.01527 in the supply area which was the high of the day. Rejection to further upward move occurred at the 10-EMA as the candle closes as an inverted bearish hammer.

This made the bears' stage a return and pushed the cryptocurrency to $0.01420 in the demand area which became the low of the day as the session ends with a bullish candle at $0.01427. This formed a bullish railroad.

The 4-hour opening candle at $0.01492 could not sustain the bullish momentum as it closes bearish with TRXUSD currently down to $0.01447 in the demand area.

TRX structure is a symmetrical triangle. Price is below the two EMAs an indication of strong bear pressure. The stochastic oscillator signal at 45% points down which suggest downward movement in price of the cryptocurrency and a possible break in the lower trendline.

TRX/USD Short-term Trend: Ranging

The cryptocurrency remains in a range bound-market in its short-term outlook. The bulls and bears are struggling for control within the range. $0.01527 in the supply area was the high of the bullish pressure took the cryptocurrency before it gradually weakens.

$0.01420 in the demand area was the low the bears' pressure dropped TRXUSD as the low of the day.as the session ended with some bullish momentum.

The 1-hour candle at $0.01459 was bullish as price rose to $0.01495 in the supply area briefly before the bears took over and pushed price down currently at $0.01447 in the demand area with a bearish marubozu candle.

TRXUSD is consolidation and trading between $0.01546 in the upper supply area and at $0.01331 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower demand area before taking a position in the short-term.

 

 

 

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

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TRON (TRX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1171
Капитализация $0 Rank 99999
Цена в час новости $ 0.0143008 (-100%)

trx bearish trend medium-term supply zones area

Источник: bitcoinexchangeguide.com

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