Crypto Technicals: TRON (TRX) set to extend recovery from 9-month lows

TRX/USD chart - Trading View

Exchange - Bitfinex

Support: 0.0154 (5-DMA); Resistance: 0.0164 (21-EMA)

Technical Analysis: Bias turning slightly bullish

TRON (TRX) is extending recovery from 9-month lows at 0.0139, scope for further upside.

TRX/USD was trading 0.79% higher on the day at 0.0159 at 09:20 GMT, slightly lower from session highs at 0.0161.

The pair has ignored doji formation in the previous session's candle and is holding above 5-DMA support.

Stochs and RSI have rolled over from oversold levels and bullish divergence raises scope for upside.

The pair is consolidating break above 200H SMA. 21-EMA is immediate resistance at 0.0164. Break above will see gains till 55-EMA at 0.0196.

On the flipside, 5-DMA is immediate support at 0.0154. Break below will see resumption of weakness.

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