TRON is grinding lower from $0.064 to $0.062, shedding $0.002 (3.26%) today.
TRON is oscillating around the $0.063 level serving as support. TRON made an initial break below its 10 day Simple Moving Average at $0.062, a possible indication of a forthcoming negative trend. After descending below strong Fibonacci support at $0.062, market bears have earmarked $0.058 as the next downside target. TRON's upper Bollinger Band® is at $0.065 which indicates a further downward move may follow.
Overall, looking at the technical analysis landscape, it seems TRON is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other markets, Solana drops 8.25% to trade around $23.93. Dogecoin closed at $0.085 (down 5.22%).
Positive performances can be seen by looking at other markets as FTX Token leaps up 9.54% to trade around $1.36.
Moreover, United States Consumer Confidence is projected to outperform its last figure with 109. It previously stood at 108.3; data will be released tomorrow at 15:00 UTC.
Trading mostly sideways for 2 months. TRON has gained 15.71% since its lowest print of $0.05 earlier this year.