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Crypto Technicals: TRON (TRX) confirms 'Golden Cross' on the daily charts, eyes 61.8% Fib at 0.0297

Fri, 14 Feb 2020, 11:30 am UTC

TRX/USD chart - Trading View

Exchange - Bitfinex

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Overbought

Volatility: High and Rising

Support: 0.02364 (5-DMA); Resistance: 0.02597 (weekly cloud)

TRX/USD is extending grind higher, trades in the green for the 6th straight week.

Momentum studies are bullish, Stochs and RSI are in the higher overbought zone.

Volatility is high and rising on the daily charts. Bollinger bands are widening on the weekly charts.

'Golden Cross' confirmed on the daily charts raises scope for further upside. Major and minor trend are bullish.

Weekly cloud offers strong resistance at 0.02597, break above required for further gains. Next hurdle aligns at 61.8% Fib at 0.02972.

5-DMA is immediate support at 0.02365. Break below 200-DMA negates bullish bias.

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