After ending the previous trading day at $0.062, TRON went up to $0.062 only to drop back; still positive overall today, now trading at $0.062.
- TRON is currently trading at $0.062 following the release of ISM Non-Manufacturing PMI (Oct) data from the United States.
- In contrast to today's gains, TRON has been on a 5 day bearish trend during which it lost $0.003 of its value.
United States ISM Non-Manufacturing PMI (Oct) came out at 54.4, while a consensus of analysts was expecting 55.5. United States Initial Jobless Claims beat analyst expectations of 220,000 and the previous reading of 218,000 with new data of 217,000.
Technical analysis trend indicators suggest that TRON made an initial breakout above its 50 day Simple Moving Average at $0.062, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that TRON is oscillating around the key Fibonacci resistance level of $0.062. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.064, thereby suggesting that TRON is becoming overvalued. Analysis of TRON's recent price action suggests TRON could be slowing down soon as it approaches resistance at $0.063. Of course, crossing it might suggest further gains are ahead.
All in all, the technical analysis suggests TRON has no clear-cut direction.
United States Non Farm Payrolls projected to come out at 200,000 — worse than previous data of 263,000; data will be released tomorrow at 12:30 UTC. United States Unemployment Rate expected to decline to 3.6 while its preceding data was 3.5, data will be available tomorrow at 12:30 UTC.
MaticNetwork USD is up 9.9%. Chainlink USD is up 6%. Having closed the previous session at $0.362, Algorand USD is up 5.64% today to currently trade at around $0.382.
Trading mostly sideways for 2 months. TRON is now trading 50.22% below the significant high of $0.124 it set around 11 months ago.