TRON drops $0.001 early on and steadies around the $0.061 level.
United States EIA Short-Term Energy Outlook is next today at 17:00 UTC.
TRON made an initial break below its 50 day Simple Moving Average at $0.062, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $0.06 currently serving as support. If price action breaks below, the next Fib hurdle is $0.059. TRON’s upper Bollinger Band® is at $0.064 which indicates a further downward move may follow. TRON is oscillating around the $0.062 level serving as support.
In the short term, TRON is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other markets, after ending today’s session at $22.07, FTX Token lost $7.41 and is trading around $14.66. Dogecoin crashes 11.51% to trade around $0.1. Bitcoin is down to $19,500, losing $1,120.45, after closing at $20,620 in the preceding trading session.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with 1.1 million. It previously stood at -3.12 million; data will be released tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook is expected today at 17:00 UTC.
Trading mostly sideways for 2 months. TRON is now trading 49.6% below the significant high of $0.124 it set around 11 months ago.