Crypto Technicals: TRON (TRX) community awaits launch of Sun Network Version 1.0 as catalyst for further price moves

TRX/USD chart - Trading View 

Exchange - Bitfinex

Support: 0.0223 (5-DMA); Resistance: 0.0240 (21-EMA)

Technical Analysis: Bias Neutral

TRX/USD has paused 3 straight sessions of gains and was trading 0.87% lower on the day at $0.0227 at 07:15 GMT.

Prices have likely bottomed out at major support at 0.0212 and the pair is showing minor signs of revival.

Price action has edged above 5-DMA and the moving average is also showing a turn north.

Stochs are on verge of rollover from oversold levels and Stochastics RSI is sharply higher.

TRON enthusiasts await launch of Sun Network Version 1.0 as catalyst for further price moves.

It is expected that the launch of the new Sun Network version will scale up the already existing blockchain.

Justin Sun, on Monday, announced that the Sun Network will release version 1.0 on 10th of this month.

The pair finds strong resistance at 21-EMA at 0.0240. Break above could see further upside. Retrace above 200-DMA will negate any bearish bias.