• The overall outlook of the cryptocurrency is in an uptrend.
• Traders may consider buying with bullish reversal candlestick pattern as confirmation.
TRX/USD Medium-term Trend: Bullish
• Resistance levels : $0.028000, $0.029000, $0.030000
• Support levels: $0.012016, $0.011000, $0.01900
Tron medium-term outlook continues in a bullish trend zone. The coin reaches a high of $0.026800 in the resistance area during yesterday’s session.
Today’s daily candle at $0.026403 in the support area is as a result of the bears’ brief return.
Reactions from the bears drop the coin further down to $0.25465 in the support area.
Price of Tronix is above the two EMAs suggests the momentum in price of the crypto is in an uptrend.
However, the stochastic oscillator signal pointing down at level 83% in the overbought area is an indication that the price of the coin may likely encounter a trend reversal in the days ahead in the medium-term.
TRX/USD Short-term Trend: Bullish
The cryptocurrency is in an uptrend in its short-term outlook. The 4-hourly candle opens today on a bearish note at $0.026403 in the supply area with its wick touching the resistance line.
Price of Tronix further drops to $0.025597 in the support area. With the price above the two EMAs indicates the momentum in price of Tronix is in an upward trend.
The stochastic signal pointing down at around level 79% in the overbought region implies the momentum in price of Tronix may likely change in the future in the short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.
