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February 24, 2023
TRON got off to a strong start by gaining $0 (+0.51%), only to run out of steam later in the session around $0.07. Currently, TRON is trading around the $0.07 level.
United States Core PCE Price Index (MoM) (Jan) is next.
TRON's state is reflected by market data as data for United States Crude Oil Inventories released yesterday at 16:00 UTC is better than expected with 7.65 million, but worse than previous figure of 16.28 million. Highly important GDP data from United States beat analyst expectations of 2.9 with a reading of 2.7. Highly important Initial Jobless Claims data from United States beat analyst expectations of 200,000 with a reading of 192,000.
TRON made an initial break below its 10 day Simple Moving Average at $0.07, a possible indication of a forthcoming negative trend. TRON's upper Bollinger Band® is at $0.073, suggesting that a downward move may follow. In contrast,
Despite the market lacking direction, technical chart analysis strongly suggests TRON is positioned for a downward move in the near term.
While TRON is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Tezos USD is down to $1.31, losing $0.03, after closing at $1.34 in the preceding trading session. Binance Coin gained 1.18% and is now trading at $311.75.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Core PCE Price Index (MoM) (Jan) scheduled to come out today at 13:30 UTC. United States New Home Sales (Jan) is expected today at 15:00 UTC.
Trading mostly sideways for 3 months. TRON has gained 27.11% since its lowest print of $0.05 earlier this year.
