TRON weakened earlier in the day, before moving away from its $0.056 low and recovering back to $0.057.
Meanwhile, United States Core Consumer Prices released yesterday at 13:30 UTC with a figure of 0.3%, while the previous figure was 0.6%. United States Consumer Price Index came out at 0.4%, while a consensus of analysts was expecting 0.6%. United States Consumer Price Index released yesterday at 13:30 UTC with a figure of 7.7%, while the previous figure was 8.2%.
Despite being in the red so far in the current trading session, TRON peaked above its 3 day Simple Moving Average around $0.057 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.056, a low enough level to, generally, suggest that TRON is trading below its fair value. On the other hand, note that TRON is currently flirting with an active Fibonacci support level around $0.057.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems TRON is set to appreciate despite today's setback.
In the meantime, negative performances are also seen in other markets, MaticNetwork USD closed at $1.08 (down 4.59%). Binance Coin descends 2.51% to trade around $295.83.
Positive performances can be seen by looking at other markets as Litecoin climbs 4.78% to trade around $63.19.
Trading mostly sideways for 2 months. Having set a significant high of $0.124 2 days ago, TRON is trading 8.46% lower.