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

TRX continues in a range-bound market in its medium-term outlook. The strong bearish pressure of the gravestone the bearish railroad at $0.02412 dropped TRXUSD to $0.02364 in the demand area with the candle closing as n inverted bearish hammer before the close of market yesterday.

The 4-hour opening candle further confirmed the bears' full takeover as TRXUSD was done to 2339 in the demand area. Price is below the two EMAs and the stochastic oscillator is in the oversold region at 19% and its signal pints down which imply further downward movement due to bears pressure with the range.

TRX is in consolidation and trading between $0.02552 in the upper supply area and at $0.02330 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 cryptocurrency is in a bearish trend in its short-term outlook. The bearish pressure from the railroad at $0.02417 in the supply area kept pushing the cryptocurrency down south with a low of $0.02371in the demand area before the end of yesterday trading session.

The bearish momentum continued after today’s opening with the bearish 1-hour opening candle as TRXUSD dropped to $0.02339 in the demand area.

Price is below the two EMAs and they are fanned apart which connotes strength in the context of the trend and in this case the downtrend.

The stochastic oscillator is in the oversold region at 10% and its signal points down which indicates downward price movement due to the bears' pressure in the short-term.
$0.02272 in the demand area may be retested by the bears.

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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