TRON (TRX) was one of the first altcoins to set a daily uptrend, the move started on September 6 with bulls trying for a new higher high but only achieving a higher low.
After the higher low was set, the bulls came back strong with two days of bullish action taking TRX from $0.0156 to $0.0185.
TRX experienced some healthy consolidation until Sunday when the bears were able to break below both EMAs with a huge 9% move to the downside. This is definitely concerning for the bulls as they do not want to lose the EMA’s support.
It’s not necessarily game over for the bulls as everything above $0.01527 is still a higher low, however, they would need to break above $0.01869 to continue the uptrend.
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Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
