After dropping down to $0.055, TRON recovers some losses and is currently trading at $0.055.
United States Consumer Confidence is next today at 15:00 UTC.
TRON's state is reflected by market data as United States Building Permits (Nov) released yesterday at 13:30 UTC with a figure of 1.34 million, while the previous figure was 1.51 million. United States API Weekly Crude Oil Stock came out at -3 million, while a consensus of analysts was expecting -167,000. United States Housing Starts (Nov) came out at 1.43 million, while a consensus of analysts was expecting 1.4 million.
TRON made an initial break below its 50 day Simple Moving Average at $0.055, a possible indication of a forthcoming negative trend. 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. TRON's upper Bollinger Band® is at $0.056, suggesting that a downward move may follow. In contrast,
Despite the market lacking direction, technical chart analysis strongly suggests TRON is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen elsewhere as Dogecoin is down to $0.073, losing $0.002, after closing at $0.075 in the preceding trading session. After ending today's session at $0.35, Ripple lost $0.009 and is trading around $0.34. Cardano is trading around $0.253 (down $0.006).
Moreover, projections for United States Crude Oil Inventories are set for a continuation of decline with -1.66 million while previous data was 10.23 million; data will be released today at 15:30 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 222,000 from the preceding figure of 211,000. United States Existing Home Sales (Nov) will be released today at 15:00 UTC.
Trading mostly sideways for a month. TRON hit a significant low of $0.05 around a month ago, but has since recovered 10%.