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Crypto Technicals: TRON (TRX) halts upside with 'Doji', 'Death Cross' to trigger downside

Tue, 13 Aug 2019, 06:22 am UTC

TRX/USD chart - Trading View

Exchange - Bitfinex

Support: 0.0199 (Lower BB); Resistance: 0.0217 (20-DMA)

Technical Analysis: Bias Bearish

TRX/USD has paused upside with a 'Doji' formation on the previous day's chart.

The pair was trading 2.18% lower on the day at 0.0203 at 06:10 GMT, bias is bearish.

A 'Death Cross' (bearish 50-DMA crossover on 200-DMA) confirmed on the daily charts to plummet prices.

Further the pair has broken strong trendline support at 0.0213, adding to the downside bias.

GMMA shows major trend in the pair is bearish. The parabolic SAR also shows downside for the pair.

Immediate support is seen at lower BB (weekly at 0.0175) ahead of 0.0160 (Aug 2018 low).

20-DMA is immediate resistance at 0.0217. Bearish invalidation only above 200-DMA (0.0269)

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