- TRON trades nearly 3% lower on Monday as almost all major coins turn bearish.
- The price has made some lower highs and lower lows but 0.0120 is the major intraday support.
TRX/USD 1-hour chart
TRON looks like its turning bearish according to this intraday chart. The price has made a few consecutive lower highs and lower lows. For the bearishness to be complete 0.0120 needs to be taken out. Another bearish sign is the fact that the 200 and 55 hourly moving averages have been broken.
The confirmation normally comes from the volume but in this case, the move lower has not been accompanied but an increase in volume. Looking at some of the other indicators now, the RSI has also moved into bearish territory and pushed below the 50 mid-line. Lastly, on the daily chart, the price rejected the 55 EMA and moved lower this could be yet another bear signal.
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