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June 17, 2023
Tentatively higher from an earlier low of $0.07, TRON is up to $0.071 today, adding $0.001, or 1.03%, to today's closing price of $0.07.
At the same time, United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 15,700, while the previous figure was 8,800. Fresh CFTC S&P 500 speculative net positions data from United States came out at -331,400. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 155,100, while the previous figure was 172,400.
TRON made an initial breakout above its 5 day Simple Moving Average at $0.071, a potential indicator of a newly emerging bullish phase. TRON's lower Bollinger Band® is at $0.066, indicating that the market is oversold and fertile for new buyers. In contrast, TRON could be slowing down soon as it approaches resistance at $0.072. Of course, crossing it might suggest further gains are ahead.
Following today's unexpected gains, extensive multifactorial technical analysis forecasts TRON to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the TRON is expected to pick up significant bullish sentiment in the coming days.
Other markets are also showing gains as FTX Token jumps 9.54% to trade around $1.36. MaticNetwork USD gained 4.37% and is currently trading at $0.615. NEAR Protocol is up 4.58%.
TRON has fallen back around 14.8% over the past 16 days, from a notable high of $0.083.
