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Crypto Technicals: TRON on a downward spiral, hits lowest since Jan 4, bias bearish

TRX/USD chart - Trading View 

Exchange - Bitfinex

Support: 0.0183 (Dec 28 low); Resistance: 0.0241 (5-DMA)

Technical Analysis: Bias Bearish

TRON continues its downward spiral, hits 6-month lows at 0.0203, bias still bearish.

TRX/USD has paused downside on the day and is extending marginal gains as we write.

The pair was trading at 0.0210 at 10:30 GMT, up around 0.94%. Price was rejected at session highs at 0.0219.

Break below 200-DMA in the previous week's trade has opened up downside for the pair.

Technical studies for the pair are highly bearish. Little support for the pair till 0.0183 (Dec 28, 2018 low).

5-DMA is immediate resistance. Bearish invalidation only above 200-DMA. 

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

By Anupama Grandhi
  • Market Data
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