Crypto Technicals: TRON (TRX) shows minor retracement from 12-week high (0.0230), 200-DMA offers stiff resistance

TRX/USD chart - Trading View

Exchange - Bitfinex

Support: 0.019946 (5-DMA); Resistance: 0.02345 (200-DMA)

Technical Analysis: Bias bullish

TRX/USD has paused bullish run just short of 200-DMA resistance at 0.023449.

The pair hit new 12-week highs at 0.0230 before paring some gains to trade at 0.021437 at 05:20 GMT.

GMMA shows shift in near-term bias to bullish. The short-term MAs have shown a break above long-term MAs.

Breakout above 110-EMA and daily cloud further strengthens bullish bias. Volatility is also rising on the daily charts.

200-DMA offers stiff resistance. Some consolidation at current levels likely. Break above 200-DMA will see upside resumption.

Next bull target lies at 55W EMA at 0.025639 ahead of 50% Fib retracement at 0.026292.

Immediate support lies at 5-DMA at 0.019946. Retrace below 110-EMA and daily cloud negates bullish bias.

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