TRON has rallied $0, or 0.91%, to now stand at $0.053.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 19:30 UTC with a figure of 252,500, while the previous figure was 278,300. United States CFTC Gold speculative net positions released yesterday at 19:30 UTC with a figure of 116,100, while the previous figure was 126,300. United States CFTC Nasdaq 100 speculative net positions came out at 3,000.
As the trading day commences, technical analysis suggests TRON could be slowing down soon as it approaches resistance at $0.055. Of course, crossing it might suggest further gains are ahead. With regards to technical trend indicators, chart analysis show that TRON made an initial breakout above its 21 day Simple Moving Average at $0.053, a potential indicator of a newly emerging bullish phase. Japanese candlestick formations show 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. Price action remains constrained around the key Fibonacci level of $0.053 currently serving as resistance According to asset volatility analysis, TRON's upper Bollinger Band® is at $0.056, this is a slight indication of a slowdown.
Notwithstanding TRON's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
TRON shows positive signs, other assets are also on par: Dogecoin gained 6.47% and is currently trading at $0.1. Litecoin is up 2.42% to $75.7.
At the same time, Ripple decreases 1.24% to trade around $0.384.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Pending Home Sales is projected to outperform its last figure with -5%, having previously been at -10.2%. The figure will be published tomorrow at 15:00 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -2.49 million. It previously stood at -3.69 million; data will be released tomorrow at 15:30 UTC.
Also worthy of note, United States ADP Nonfarm Employment Change (Nov) is scheduled for tomorrow at 13:15 UTC.
Trading mostly sideways for 3 months. TRON is now trading 6% above the significant low ($0.05) it slumped to 12 days ago.