Today, TRON trades below the $0.05 level for first time in 5 months; it lost $0.001 on a day following a closing value of $0.051.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index has gone below 30, going into oversold conditions and allowing more gains. According to asset volatility analysis, TRON's lower Bollinger Band® is at $0.051, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Support/Resistance levels obtained from chart analysis indicate that although TRON is down today and was as low as $0.046, it seems to be recovering slightly and climbing away from the $0.051 support line and is now 1 cents above it.
With market volatility ebbing, the current technical outlook indicates TRON will remain range-bound for the immediate future.
Positive performances can be seen by looking at other markets as Solana surges 10.24% to trade around $14.53. MaticNetwork USD gained 6.07% and is now trading at $0.946. Bitcoin Cash is up 3.24%.
Some optimism can drawn from the fact that United States Producer Price Index is projected to outperform its last figure with 0.5%. It previously stood at 0.4%; data will be released tomorrow at 13:30 UTC.
Trading mostly sideways for 2 months. TRON has lost 3.16% over the last a day.