Cryptocurrency Derivatives Series: Uphold BTC Long Hedges As Bitcoin On Verge Of 7th Consecutive Weeks Rallies Breakout Stiff Resistance
Crypto-Technical Series: Bitcoin Staged For 8th Consecutive Weeks’ Rallies, Long Hedges As BTC Reclaims $10k With Resounding Engulfing
Cryptocurrency Series: BTC Long Hedges Productive As Bitcoin Bulls Staged For 8th Consecutive Weeks’ Rallies
Cryptocurrency Derivatives Series: FxWirePro’s BTC Long Hedges In Play When Bitcoin Skyrockets To $9k Territory
Cryptocurrency Derivatives Series: Block-Halving & Open Interest Factors Drive Bitcoin Price To $10k Trajectory, Long Hedges Intact
Crypto-Technicals: BTC/USD Forms Double Top Pattern, 100-DMA Acts As Neckline Support Ahead of CME F&O Expiry Season
Digital Currency Revolution Series: A Glimpse At Scope For Potential Digital Forms Of Euro, Dollar & Yuan Amid Pandemic Covid-19 Crisis
Digital Currency Revolution Series: Goldman Sachs Exhibits Reluctance In Bitcoin For Asset Portfolio
Crypto Technicals: TRON (TRX) breaks 21-EMA resistance, rising volatility and bullish divergence to ensure upside continuation
TRX/USD chart - Trading View
Exchange - Bitfinex
Support: 0.016200 (21-EMA); Resistance: 0.017815 (50-DMA)
Technical Analysis: Bias Bullish
TRX/USD was trading 4.28% higher on the day at 0.017496 at 09:30 GMT.
The pair is extending a breakout above 21-EMA resistance, bias remains bullish.
Major trend is bearish, but we see turn in indicators on the daily charts. Volatility is rising.
Stochs and RSI are sharply higher and bullish 5-DMA crossover on 20-DMA supports near-term uptrend.
Further, the pair shows bullish divergence on RSI and Stochs which adds to the bullish bias.
50-DMA offers stiff resistance at 0.017811. Break above will see further gains. Next bull target lies at 23.6% Fib at 0.020280
Immediate support lies at 5-DMA at 0.016272. Retrace below 21-EMA will negate near-term bullish bias.