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March 08, 2023
TRON went up to $0.067 only to drop back some of the way and is now trading at $0.066.
Uncertainty around TRON is reflected by published market data as United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.635, while the previous figure was 4.073.
As the day gets underway, chart analysis suggests Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, TRON's upper Bollinger Band® is at $0.072 and the lower is $0.065.
The current technical outlook indicates TRON will continue to ebb sideways within tight ranges for the immediate future.
Other markets show mixed performance as FTX Token leaps up 9.54% to trade around $1.36. UNICORN Token USD is trading around $6.43 (down $0.197). Ripple is down $0.003 from the beginning of the session and now trades around $0.378.
Furthermore, the market is looking at United States ADP Nonfarm Employment Change (Feb) is scheduled for today at 13:15 UTC. Today at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 395,000 from the preceding figure of 1.17 million. United States JOLTs Job Openings (Jan) will be released today at 15:00 UTC.
Trading mostly sideways for 3 months. TRON has managed to gain 20% so far this year despite trading at lows around $0.05 previously.
