TRON is range-bound between $0.063 and $0.066 today after shedding $0.002 and closing at $0.066 today.
United States Core Consumer Prices is next today at 12:30 UTC.
Amid the market gloom, United States API Weekly Crude Oil Stock came out at 377,000, while a consensus of analysts was expecting -1.3 million. United States 3-Year Note Auction released yesterday at 17:00 UTC with a figure of 3.81, while the previous figure was 4.635.
TRON made an initial break below its 50 day Simple Moving Average at $0.066, a possible indication of a forthcoming negative trend. Price action pushed below a known Fibonacci support level at $0.065 by around $0.001 with prices hammering out a $0.063 – $0.066 range by session close. TRON's upper Bollinger Band® is at $0.068 which indicates a further downward move may follow.
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, Dogecoin is down $0.002 from the beginning of the session and now trades around $0.082. Ripple is down to $0.505, losing $0.012, after closing at $0.517 in the preceding trading session.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Moreover, United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -583,000, having previously been at -3.74 million. The figure will be published today at 14:30 UTC.
Furthermore, United States Consumer Price Index figure is projected at 0.2%. It previously stood at 0.4%; data will be released today at 12:30 UTC.
TRON has managed to gain 21.35% so far this year despite trading at lows around $0.05 previously.
