Supply zones: $0.03000, $0.03200, $0.03400
Demand zones: $0.01700, $0.01600, $0.01500

TRX is in a bullish trend in its medium-term outlook. The strong bullish pressure from $0.02291 in the demand area on 6th October was sustained and this led to the break of the critical supply area at $0.02499 as TRX made a high of $0.02639.

The retest of the broken supply area was achieved on 7th October as the bears dropped the cryptocurrency back at $0.02487 in the demand area which serves as a pullback necessary for the market correction before uptrend continuation.

The bulls return was remarkable as TRX was up to $0.02759 in the supply area before the end of yesterday session. The bullish 4-hour opening candle at $0.02699 sustained the bullish momentum with price up to $0.02823 in the supply area earlier today.

Price is above the two EMAs crossover with the 10 EMA acting as strong support for bullish continuation. Moreover, the EMAs are fanned apart an indication of strength in trend and in this context the uptrend. The stochastic oscillator is in the overbought region at 81% and its signal points up which implies upward price movement of the cryptocurrency in the medium-term.

The cryptocurrency is in a bullish trend in its short-term outlook. The bulls journey north from the lower high at $0.02126 has been progressive with new higher highs and higher lows that are characteristic of up trending market.

Currently, the higher low at $0.02657 is seen at the 23.6 fib level a trend continuation zone This implies the bullish return is imminent and new higher highs may be attained in the short-term as more candles formed and closed above the two EMAs crossover that is fanned apart.

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 »

191 +