TRON got off to a strong start by gaining $0 (+0.48%), only to run out of steam later in the session around $0.053. Currently, TRON is trading around the $0.053 level.
United States Initial Jobless Claims is next.
Uncertainty around TRON is reflected by published market data as highly important Crude Oil Inventories data from United States beat analyst expectations of -3.31 million with a reading of -5.19 million. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of -373,000, while the previous figure was -415,000. United States Unit Labor Costs (QoQ) (Q3) came out at 2.4, while a consensus of analysts was expecting 3.1.
Trend analysis indicates that TRON made an initial breakout above its 5 day Simple Moving Average at $0.054, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that TRON's upper Bollinger Band® is at $0.055, suggesting that a downward move may follow. A study of TRON's historical price actions shows
Overall, the technical outlook suggests TRON is likely to remain muted for the immediate future, with no clear-cut direction.
At the same time, mixed performances are seen elsewhere as FTX Token is down to $1.36, losing $0.035, after closing at $1.39 in the preceding trading session. After ending today's session at $76.96, Litecoin lost $1.9 and is trading around $75.06. After ending today's session at $0.987, EOS lost $0.01 and is trading around $0.978.
Furthermore, the market is looking at United States Initial Jobless Claims projected to decline to 230,000 while previous data was 225,000; data will be released today at 13:30 UTC. United States Producer Price Index figure is projected at 0.2%. It previously stood at 0.2%; data will be released tomorrow at 13:30 UTC.
Trading mostly sideways for 3 months. TRON has shed 35.21% over the past six months.