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May 04, 2023
It's been more of the same this session on the back of a month of flat trade, Today's session so far looks to be heading in a similar way — TRON trades at $0.069, after ending today at $0.069.
TRON's state is reflected by market data as United States Interest Rate released yesterday at 18:00 UTC with a figure of 5.25, while the previous figure was five. United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts. United States ISM Non-Manufacturing PMI (Apr) came out at 51.9, while a consensus of analysts was expecting 51.8.
Trend-following investors would be interested to note that investors are seeking long positions as TRON price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that TRON's upper Bollinger Band® is at $0.07, suggesting that a downward move may follow. As the trading day commences, technical analysis suggests
The current technical outlook indicates TRON will continue to ebb sideways within tight ranges for the immediate future.
At the same time, mixed performances are seen elsewhere as FTX Token jumps 9.54% to trade around $1.36. UNICORN Token USD is trading around $6.43 (down $0.197).
Moreover, projections for United States Non Farm Payrolls are set for a continuation of decline with 180,000 while previous data was 236,000; data will be released tomorrow at 12:30 UTC. Today at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 240,000 from the preceding figure of 230,000. United States Unemployment Rate expected to decline to 3.6 while its preceding data was 3.5, data will be available tomorrow at 12:30 UTC.
Trading mostly sideways for a month. This year has been a bright one for TRON after trading as low as $0.05 and going on to appreciate by 25.81% year to date.
