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

TRX is in a range-bound market in its medium-term outlook. The bearish pressure dropped TRXUSD to a low of $0.02209 in the demand area while the bullish pressure pushed the cryptocurrency to $0.02258 in the supply area, making it the high of the day yesterday.

The 4-hour opening candle was a bullish candle at $0.02251. This sustained the bullish momentum as TRXUSD was up at $0.02287 in the supply area but shows exhaustion as the candle with an upper wick that return the bears. Price was down $0.02240 sitting upon the 10-EMA as the cryptocurrency ranges.

TRXUSD is in consolidation and trading between $0.02326 in the upper supply area and at $0.02200 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 with good reversal candle formation before taking a position.

The cryptocurrency is in consolidation in its short-term outlook. The bear press was weak and could not push price down to a reasonable low but to $0.02209 in the demand area before the bulls.

The bullish pressure also was lost at $0.02287 in the supply area although we had a bullish 1-hour opening at $0.02244.

Price is below the two EMAs and the stochastic oscillator is at 25% and its signal points down which suggest that the bear may push price further down within the range in the short-term

TRX is in consolidation and trading between $0.02289 in the upper supply area and at $0.02202 in the lower demand area of the range. A breakout at the upper supply area may suggest going long while breakdown at the lower demand area may imply shorting the cryptocurrency. This should with good reversal candles as extra 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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