Bearish TRON currently $0 lower after trading as high as $0.067

After a mostly steady day, TRON loses $0 late into the session, trading at $0.067.

TRON made an initial break below its 3 day Simple Moving Average at $0.067, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $0.067 currently serving as support. If price action breaks below, the next Fib hurdle is $0.066. On the other hand, note that a "hammer” chart pattern. When appearing during a bearish trend, as it is now, it is typically considered to be an indication of a trend reversal.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for TRON.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. Algorand USD is down $0.005 from the beginning of the session and now trades around $0.221.

Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Furthermore, United States Fed Chair Powell testimony set for tomorrow at 15:00 UTC. United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 17:00 UTC.

Trading mostly sideways for 3 months. This year has been a bright one for TRON after trading as low as $0.05 and going on to appreciate by 23.31% year to date.