# Crypto Technicals: TRON finds strong support at 55-EMA (0.0293), break below opens up further downside

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2179
Published: 2019-06-11T10:37:51.000Z
Updated: 2019-06-11T10:37:51.000Z
Section: Investing

> Support: 0.0293 (55-EMA); Resistance: 0.0325 (20-DMA)

[TRX/USD](<https://www.tradingview.com/symbols/TRXUSD/>) chart - Trading View

Exchange - Binance

Support: 0.0293 (55-EMA); Resistance: 0.0325 (20-DMA)

Technical Analysis: Bias Neutral

TRON is extending decline from 11-month highs at 0.04156 hit on Jun 2nd trade.

The pair has slipped below 21-EMA and is holding support at 55-EMA at 0.0293.

Technical indicators have turned slightly bearish. Scope for weakness.

Stochs and RSI are sharply lower and 5-DMA has turned. RSI has slipped below the 50 mark.

Furthermore, a 'Bearish Engulfing' candlestick pattern on the weekly charts aids downside bias.

Break below strong support at 55-EMA opens up further downside.

Next major support lies at daily cloud at 0.0272 ahead of 0.0227 (rising trendline).

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).

## Links in this article

- [TRX/USD](https://www.tradingview.com/symbols/TRXUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)