It's been more of the same this session on the back of 27 days of flat trade, Today's session so far looks to be heading in a similar way — TRON recovers back to $0.063 after dipping down to $0.062 today, in a session that followed a closing value of $0.063.
Uncertainty around TRON is reflected by published market data as United States NY Empire State Manufacturing Index (Oct) came out at -9.1, while a consensus of analysts was expecting -4.
TRON made an initial break below its 3 day Simple Moving Average at $0.063, a possible indication of a forthcoming negative trend. TRON formed a session range of $0.062 to $0.063 leaving buyers and sellers highly concentrated around an active Fibonacci support level of $0.063. TRON's upper Bollinger band is at $0.064, suggesting that a downward move may follow. On the other hand, note that
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 Ripple descends 1.14% to trade around $0.475. FTX Token is trading around $23.93 (down $0.214).
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories expected to decline to 1.55 million while its preceding data was 9.88 million, data will be available tomorrow at 14:30 UTC. United States Building Permits (Sep) scheduled to come out tomorrow at 12:30 UTC.
Trading mostly sideways for 2 months. TRON is now trading 49.28% below the significant high of $0.124 it set around 11 months ago.