Crypto Technicals: TRON edges lower from 10-month highs at 0.03513, bias higher

TRX/USD chart - Trading View

Exchange - Binance

Support: 0.0312 (5-DMA); Resistance: 0.0414 (July 29 high)

Technical Analysis: Bias Bullish

TRON consolidated previous sessions' massive surge, bias remains bullish.

TRX/USD edged lower from new 10-month highs at 0.03513 hit on Monday.

The pair was trading 2.06% lower on the day at 0.03441 at 11:20 GMT.

Justin Sun's announcement to launch BitTorrent File System (BTFS) buoyed prices.

Momentum studies are bullish and RSI converges with price action.

Price has broken strong trendline resistance, scope for further gains.

Volatility rising on the daily charts. Major moving averages are biased higher.

5-DMA is immediate support at 0.0312. Break below will see dip till 110-EMA at 0.0256.

Break below 200-DMA negates bullish bias.

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