Crypto Technicals: TRON upside capped at 21-EMA, weakness likely below daily cloud

TRX/USD chart - Trading View

Exchange - Binance

Support: 0.0312 (Cloud base); Resistance: 0.0338 (21-EMA)

Technical Analysis: Bias Bearish

TRON extends gradual grind lower along 5-DMA which is biased sharply lower.

Upside in the pair capped at 21-EMA (0.0338), the pair edges lower from session highs at 0.0338 and was trading at 0.0322 at 07:35 GMT.

Signs of weakness emerge on the intraday charts, technical indicators are turning bearish.

RSI is below 50 and biased lower, Stochs show momentum is with the bears. A bearish divergence on RSI and Stochs adds to the downside bias.

Bearish MACD line crossover on signal line and bearish 5-DMA crossover on 20-DMA support weakness.

Break below cloud eyes next immediate support at 110-EMA (0.0292). Further weakness to see test of 200-DMA (0.0257).

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