After closing at $0.05 today, TRON began today at $0.05 with significant bullish sentiment driving TRON's price action higher. So far today, price action has drawn out a distinct $0.049 to $0.051 range.
United States Producer Price Index is next today at 13:30 UTC.
At the same time, United States CFTC Gold speculative net positions released yesterday at 19:30 UTC with a figure of 82,300, while the previous figure was 64599.99999999999. United States CFTC Nasdaq 100 speculative net positions released yesterday at 19:30 UTC with a figure of -2,400, while the previous figure was -15,200. Fresh CFTC S&P 500 speculative net positions data from United States came out at -177,100.
A study of TRON's chart reveals various key levels to watch: TRON could be slowing down soon as it approaches resistance at $0.052. Of course, crossing it might suggest further gains are ahead. Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates TRON is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that TRON's lower Bollinger Band® is at $0.05, indicating that the market is oversold and fertile for new buyers.
Overall, the technical outlook suggests TRON is likely to remain muted for the immediate future, with no clear-cut direction.
TRON shows positive signs, other assets are also on par: FTX Token is up 12.63%. Solana climbs 4.46% to trade around $14.65. Algorand USD is up 3.82%.
Moreover, macro data could boost sentiment further as United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at 0.1%; data will be released tomorrow at 13:30 UTC.
Furthermore, the market is looking at United States Crude Oil Inventories expected to decline to 1.36 million while its preceding data was 3.92 million, data will be available tomorrow at 15:30 UTC.
Elsewhere, United States Producer Price Index is expected today at 13:30 UTC.
On a negative trend for around 3 months. TRON is now trading 29% below its 3-month high of $0.124.