Bearish TRON currently $0.001 lower after trading as high as $0.078

After closing at $0.078 today, TRON opened today at $0.078, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, TRON retains a distinct $0.077 to $0.078 daily range.

TRON made an initial break below its 3 day Simple Moving Average at $0.077, a possible indication of a forthcoming negative trend. TRON's upper Bollinger Band® is at $0.081 which indicates a further downward move may follow. Despite this,

Overall, looking at the technical analysis landscape, it seems TRON is likely to start pointing downward in the short term.

In the meantime, negative performances are also seen in other markets, Bitcoin is trading around $27,800 (down $363.04). After ending today's session at $0.383, Cardano lost $0.006 and is trading around $0.378.

Positive performances can be seen by looking at other markets as FTX Token added 9.54% to its value, now trading at $1.36.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Consumer Confidence projected to come out at 99 — worse than previous data of 101.3; data will be released tomorrow at 14:00 UTC.

Trading mostly sideways for 2 months. TRON has gained 40.33% since its lowest print of $0.05 earlier this year.