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Crypto Technicals: TRON finds strong support at 55-EMA (0.0293), break below opens up further downside

TRX/USD chart - Trading View 

Exchange - Binance

Support: 0.0293 (55-EMA); Resistance: 0.0325 (20-DMA)

Technical Analysis: Bias Neutral

TRON is extending decline from 11-month highs at 0.04156 hit on Jun 2nd trade.

The pair has slipped below 21-EMA and is holding support at 55-EMA at 0.0293.

Technical indicators have turned slightly bearish. Scope for weakness.

Stochs and RSI are sharply lower and 5-DMA has turned. RSI has slipped below the 50 mark.

Furthermore, a 'Bearish Engulfing' candlestick pattern on the weekly charts aids downside bias.

Break below strong support at 55-EMA opens up further downside. 

Next major support lies at daily cloud at 0.0272 ahead of 0.0227 (rising trendline).

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 764671764671m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764671764671m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776491776491m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764671764671m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776491776491m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764671764671m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764671764671m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764671764671m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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