Mixed sentiment leads TRON cryptocurrency to trade sideways; establishes tight $0.065 to $0.065 range

Although TRON ended today strong and rose from $0.065 to $0.065, it dropped back today and is now priced at $0.065.

Uncertainty around TRON is reflected by published market data as Producer Price Index in United States fell short of market expectations (0.1%) with a reading of -0.5%, continuing the decline from the previous figure of 0%. United States Initial Jobless Claims published today at 12:30 UTC came out at 239,000, falling short of the 232,000 projections and continuing its decline from the previous 228,000 figure. Data for United States Crude Oil Inventories published yesterday at 14:30 UTC came out at 597,000, beating projections of -583,000 and showing improvement over the preceding figure of -3.74 million.

Technical analysis trend indicators suggest that TRON made an initial breakout above its 21 day Simple Moving Average at $0.065, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, TRON's upper Bollinger Band® is at $0.067, suggesting that a downward move may follow. Following today's trading session, chart analysis suggests TRON is currently alternating around $0.065 with price action moving above and below this key level throughout the session.

With market volatility ebbing, the current technical outlook indicates TRON will remain range-bound for the immediate future.

At the same time, 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. Ethereum gained 4.73% and is currently trading at $2,009.71. Having closed the previous session at $0.084, Dogecoin is up 4.61% today to currently trade at around $0.087.

Moreover, tomorrow at 12:30 UTC data for United States Core Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of -0.1%. United States Retail Sales figure is projected at -0.4%. It previously stood at -0.4%; data will be released tomorrow at 12:30 UTC.

TRON hit a significant low of $0.05 around 4 months ago, but has since recovered 30.17%.