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

TRX is in a ranging scenario in its medium-term outlook. The strong bullish pressure from $0.02123 in the demand area push TRX to $0.02178 in the supply area before the bearish pullback.

The cryptocurrency was down to $0.02126 in the demand area before the end of yesterday session.

The bullish 4-hour opening candle at $0.02164 sustained the bulls pressure and TRX was up $0.02217 in the supply area as the cryptocurrency ranges. Price is above the two EMAs and the stochastic oscillator is at 58% and its signal points up which implies upward price movement within the range may occur.

TRX is in consolidation and trading between $0.02290 in the upper supply area and at $0.02127 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area is imminent hence traders should be patient before taking a position.

The cryptocurrency is in a bullish trend in its short-term outlook. The bears lost momentum at $0.02125 in the demand area due to the presence of a strong support. This also created the double bottom pattern making the bulls stage a comeback.

The bullish 1-hour candle at $0.02144 sustained the bullish momentum as TRX went up to $0.02219 in the supply area above the two EMAS crossover.

The structure of TRX on a short-term outlook is a W. This imply that the bulls will keep pushing price up north.$0.02250 in the supply area is the initial bullish target.

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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