TRON recovers back to $0.067 today after dipping down to $0.067, in a session that follows a previous closing value of $0.067.
TRON made an initial break below its 3 day Simple Moving Average at $0.067, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $0.067 currently serving as support. If price action breaks below, the next Fib hurdle is $0.066. In contrast, TRON's upper Bollinger Band® is at $0.072 and the lower is $0.066. TRON is currently alternating around $0.067 with price action moving above and below this key level throughout the session.
Although price action remains in a stalemate, technical analysis suggests TRON could be primed for a break to the downside.
While TRON is pretty flat so far today, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. Litecoin closed at $87.87 (down 2.28%). After ending today's session at $0.337, Cardano lost $0.004 and is trading around $0.333.
Furthermore, the market is looking at United States Fed Chair Powell testimony set for tomorrow at 15:00 UTC. United States EIA Short-Term Energy Outlook will be released tomorrow at 17:00 UTC.
Trading mostly sideways for 3 months. TRON has managed to gain 23% so far this year despite trading at lows around $0.05 previously.