Crypto Technicals: TRON (TRX) resumes weakness, break below 20-DMA could see fresh multi-month lows

TRX/USD chart - Trading View

Exchange - Bitfinex

Support: 0.014490 (88.6% Fib); Resistance: 0.016547 (55-EMA)

Technical Analysis: Bias bearish

TRON (TRX) has been extending gradual grind lower after upside was capped at 55-EMA.

Technical indicators on the daily charts are biased lower. RSI below 50 and stochs are sharply lower.

5-DMA has turned indicating near-term downside. TRX/USD is holding support at 20-DMA (0.015291).

Break below 20-DMA will see resumption of downside. Test of fresh multi-month lows likely.

Failure to break below 20-DMA could see further consolidation. Breakout above cloud will invalidate near-term bearish bias.

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