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Trading Signals

TRON is trading at $0.066 following disappointing Crude Oil Inventories data from the United States

19 April 2023

TRXUSD

TRON recovering almost all the way back to $0.067 today, after dipping down to $0.065.

United States's Crude Oil Inventories new data released of -4.58 million below its previous figure.
Today's slip comes after 29 days of trading still.

United States Crude Oil Inventories published today at 14:30 UTC came out at -4.58 million, falling short of the -1 million projections and continuing its decline from the previous 597,000 figure. United States Building Permits (Mar) came out at 1.41 million, while a consensus of analysts was expecting 1.45 million.

TRON made an initial break below its 50 day Simple Moving Average at $0.065, a possible indication of a forthcoming negative trend. TRON is currently flirting with an active Fibonacci support level around $0.065. TRON's upper Bollinger Band® is at $0.067 which indicates a further downward move may follow. Despite this, TRON is currently alternating around $0.066 with price action moving above and below this key level throughout the session.

Overall, the technical analysis landscape suggests that on the balance of probability, TRON is expected to maintain its bearish bias.

United States Philadelphia Fed Manufacturing Index (Apr) is scheduled for tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) scheduled to come out tomorrow at 14:00 UTC.

EOS drops 6.86% to trade around $1.13. After ending today's session at $101.78, Litecoin lost $6.19 and is trading around $95.59. Ripple is trading around $0.5 (down $0.033).

TRON has recovered 33.47% since descending to a significant low of $0.05 around 5 months ago.

Market Summary

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