After closing the previous trading day at $0.055, TRON rose as high as $0.055 today before paring back gains and trading at $0.055.
TRON's state is reflected by market data as United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of 14.87 million, while the previous figure was 3.30 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.977, while the previous figure was 4.093.
A "bearish engulfing" pattern — a scenario when a larger red candle engulfs a smaller green candle, at the top of a prevailing uptrend. Typically this is a signal of lower prices in the near term. TRON's upper Bollinger Band® is at $0.056, suggesting that a downward move may follow. Despite this,
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 FTX Token is down to $1.19, losing $0.056, after closing at $1.24 in the preceding trading session. Having closed the previous session at $0.351, Ripple is up 3.54% today to currently trade at around $0.363. Cardano closed at $0.314 (down 2.42%).
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as today at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.24 million from the preceding figure of 1.69 million. United States Core Consumer Prices figure is projected at 0.3%. It previously stood at 0.2%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index is expected tomorrow at 13:30 UTC.
Trading mostly sideways for a month. TRON is now trading 37.38% below the significant high of $0.088 it set around 8 months ago.