Tron (TRX) Daily Price Forecast – January 7

2019-1-7 14:25

 

TRX/USD Medium-term Trend: Bullish

Supply zones: $0.04000, $0.05000, $0.06000
Demand zones: $0.01000, $0.00900, $0.00800

TRX is in a bullish trend in its medium-term outlook. The breakout at the $0.02168 in the upper supply area on 4th January was the beginning of the journey up north as the bulls kept the pressure up over the weekend.

Initially, TRXUSD was up at $0.02259 and later at $0.02425 in the supply area on 5th January which was the high over the weekend.

Price is within the 23.6 fib area and above the two EMAs that are fanned apart which implies strength in the context of the tend and in this case the uptrend.

The stochastic oscillator signal lies at 70% in the overbought region with its signal slightly down indicating the current pullback which is necessary for the market correction in the medium-term before the uptrend continuation that may change its direction up as more candles formed and closed above the two EMAs due to the bullish pressure.

TRX/USD Short-term Trend: Bullish

TRX continues in a bullish trend in its short-term outlook. The cryptocurrency is in an ascending channel. After the bullish pressure that saw TRXUSD up at $0.02425 in the supply area on 5th January, the bears returned due to the formation of the inverted hammer at the upper line of the channel.

The 50-EMAs was strong support rejecting further downward movement as the bulls returned with TRXUSD pushed up to $0.02410 in the supply area before yesterday end of the session. Price is within the two EMAs at $0.02330 with possibilities for two scenarios as the bearish pressure increased.

The first is a push to the 50-EMA and the bulls stage a return or a little down push to the lower line of the channel then the bullish comeback as the overall outlook remains bullish. The stochastic oscillator signal is pointing up 60% which also implies upward momentum in price in the short-term.

 

 

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 $ 0.0291567 (-100%)

trx bullish supply zones medium-term trend january

Источник: bitcoinexchangeguide.com

trx bullish → Результатов: 65


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