Tron (TRX) Daily Price Forecast – October 18

2018-10-18 10:06

 

TRX/USD Medium-term Trend: Bullish

Supply zones: $0.02800, $0.02900, $0.03000
Demand zones: $0.01700, $0.01600, $0.01500

TRX is in a bullish trend in its medium-term outlook. The bullish pressure from the hammer formed at the close of trading on 16 October remains intact despite the drawdown to $0.02430 in the demand area on 17th October after the trading session opened.

The bulls return was at the 50.0 fib level a trend reversal zone. TRXUSD was up at $0.02639 in the supply area. This was a move to the 23.6 fib level a trend continuation zone before a pullback to $0.02470 in the demand area as the session ended yesterday.

The bullish 4-hour opening candle $0.02495 sustained the bullish momentum with TRXUSD up at $0.02558 in the supply area after today's opening. Price is around the 10-EMA but the stochastic oscillator signal points up at 34%. The implication is an upward price movement due to the bullish pressure in the medium term.

TRX/USD Short-term Trend: Ranging

The cryptocurrency is in a range-bound market in its short-term outlook. After a drop in price to $0.02424 in the demand area which created the double bottom indicated by the arrows, the bulls made a returned.

TRXUSD was up at $0.02639 in the supply area as a result of the bullish pressure but lack the needed momentum to go up further hence the bears' takeover. The cryptocurrency was down to $0.02470 in the demand area as the session ended yesterday.

Price is above the 10-EMA and the stochastic oscillator is undefined at 35% which reflect the consolidation scenario.

TRX is in consolidation and trading between $0.02600 in the upper supply area and at $0.02400 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taking with good reversal candle as confirmation.

 

 

 

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 $ 0.0246627 (-100%)

bullish october trx demand zones medium-term trend

Источник: bitcoinexchangeguide.com

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