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June 28, 2023
TRON is range-bound between $0.074 and $0.074 today after shedding $0 and closing at $0.074 today.
- United States Fed Chair Powell speech is next.
- TRON has been pretty quiet for the last 19 days, trading mostly flat and moving by only $0 on average.
Earlier data releases related to TRON – United States New Home Sales (May) came out at 763,000, while a consensus of analysts was expecting 675,000. Highly important Consumer Confidence data from United States beat analyst expectations of 104 with a reading of 109.7.
Here is the technical analysis of TRON before macro data is released:
TRON made an initial break below its 50 day Simple Moving Average at $0.074, a possible indication of a forthcoming negative trend. TRON's upper Bollinger Band® is at $0.075, suggesting that a downward move may follow. Despite this, TRON is currently alternating around $0.074 with price action moving above and below this key level throughout the session.
According to technical indicators, TRON is positioned for a downward move in the short term.
Coming up for TRON — United States Crude Oil Inventories is projected to outperform its last figure with -1.76 million. It previously stood at -3.83 million; data will be released today at 14:30 UTC. Tomorrow at 12:30 UTC data for United States GDP will be released, with an expected decline to 1.4 from the preceding figure of 2.6.
As the markets get ready for more data to be released — having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Algorand USD closed at $0.121 (down 5%). After ending today's session at $0.286, Cardano lost $0.011 and is trading around $0.275.
27 days ago TRON reached a significant high of $0.083 but has consequently lost 10% since then.
