TRON got off to a strong start by gaining $0 (+0.44%), only to run out of steam later in the session around $0.07. Currently, TRON is trading around the $0.07 level.
United States Core PCE Price Index (MoM) (Jan) is next.
TRON's state is reflected by market data as United States Crude Oil Inventories released yesterday at 16:00 UTC is better than expected at 7.65 million but down from preceding data of 16.28 million according to new data. Following a previous reading of 3.2, GDP in United States released yesterday at 13:30 UTC fell short of the 2.9 figure expected by analysts with an actual reading of 2.7. United States Initial Jobless Claims beat analyst expectations of 200,000 and the previous reading of 195,000 with new data of 192,000.
TRON made an initial break below its 10 day Simple Moving Average at $0.07, a possible indication of a forthcoming negative trend. TRON's upper Bollinger Band® is at $0.073, suggesting that a downward move may follow. On the other hand, note that
Despite the market lacking direction, technical chart analysis strongly suggests TRON is positioned for a downward move in the near term.
At the same time, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Tezos USD closed at $1.31 (down 2.44%). Binance Coin gained 1.18% and is now trading at $311.75.
Moreover, United States Core PCE Price Index (MoM) (Jan) is scheduled for today at 13:30 UTC. United States New Home Sales (Jan) will be released today at 15:00 UTC.
Trading mostly sideways for 3 months. This year has been a bright one for TRON after trading as low as $0.05 and going on to appreciate by 27.11% year to date.