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 strong bearish pressure of the gravestone doji at $0.02479 on October 21st dropped TRXUSD to $0.02448 in the demand area before the end of the session yesterday.

The bearish momentum was sustained at the opening with the bearish candle formation and TRXUSD went down to $0.024211 in the demand area.

The stochastic oscillator is in the oversold region at 12% and its signal pints down which imply further downward movement due to bears pressure within 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. Patience will guarantee profit after flowing with the trend after either a breakout at the upper supply area or breakdown at the lower area

The cryptocurrency is in a range-bound market in its short-term outlook. The cryptocurrency crossed the two EMAs at the close of yesterday market with an engulfing candle with TRXUSD down t $0.02448 in the demand area. Further bears pressure saw the cryptocurrency at $0.02412.

The stochastic oscillator is in the oversold region at 15% and its signal points down which indicates bear pressure and subsequent downward price movement in the medium term.

TRX is in consolidation and trading between $0.02543 in the upper supply area and at $0.02392 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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