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Crypto Technicals: TRX/USD breaks above 55-EMA, eyes 23.6% Fib at 0.018610

Wed, 09 Oct 2019, 10:21 am UTC

TRX/USD chart - Trading View

Exchange - Bitfinex

Support: 0.0167 (55-EMA); Resistance: 0.0186 (23.6% Fib)

Technical Analysis: Bias slightly bullish

TRON (TRX) is extending recovery from 2019 lows at 0.011744, bias has turned slightly bullish.

TRX/USD has broken above 55-EMA, was trading 0.06% higher on the day at 0.017010 at 10:10 GMT.

Momentum studies on the intraday charts are bullish. RSI is above 50 and biased higher.

Price action has pierced into daily cloud, bullish 5-DMA crossover on 20-DMA supports gains.

Major and minor trend have turned bullish on the 4H charts, price has broken above 4H 200 SMA.

Bullish divergence keeps scope for upside, next major bull target lies at 23.6% Fib at 0.018610.

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