After dropping down to $0.054, TRON recovers some losses and is currently trading at $0.055.
United States Core PCE Price Index (MoM) (Oct) is next today at 13:30 UTC.
This uncertain state for TRON is reflected by published market data as following a previous reading of -3.69 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the -2.76 million figure expected by analysts with an actual reading of -12.58 million. Highly important Pending Home Sales data from United States beat analyst expectations of -5% with a reading of -4.6%. United States JOLTs Job Openings (Oct) came out at 10.33 million, while a consensus of analysts was expecting 10.3 million.
Analysis of TRON's recent price action suggests Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as TRON price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Japanese candlestick formations show a "hanging man” chart pattern. When appearing at the top of a bullish trend, it is typically considered to be an indication of a trend reversal. Asset volatility analysis shows that TRON's upper Bollinger Band® is at $0.055, suggesting that a downward move may follow.
Notwithstanding TRON's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
While TRON is pretty flat so far today, mixed performances are seen elsewhere as Dogecoin closed at $0.103 (down 4.29%). Litecoin is trading around $77.05 (down $2.2). Ripple closed at $0.4 (down 2.09%).
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Core PCE Price Index (MoM) (Oct) is scheduled for today at 13:30 UTC. United States Non Farm Payrolls projected to decline to 200,000 while previous data was 261,000; data will be released tomorrow at 13:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 235,000, having previously been at 240,000. The figure will be published today at 13:30 UTC.
Trading mostly sideways for 3 months. TRON hit a significant low of $0.05 around 14 days ago, but has since recovered 9.27%.