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June 29, 2023
TRON has rallied $0.001, or 1.09%, to now stand at $0.075.
United States's Pending Home Sales new data released of -2.7% below its previous figure.
TRON upside coincides with further encouraging market factors as highly important GDP data from United States beat analyst expectations of 1.4 with a reading of two. Highly important Initial Jobless Claims data from United States beat analyst expectations of 266,000 with a reading of 239,000.
On the flip side, United States Pending Home Sales published today at 14:00 UTC came out at -2.7%, falling short of the -0.5% projections and continuing its decline from the previous -0.4% figure.
Despite posting gains so far today, TRON slid below its 50 day Simple Moving Average at $0.074 in earlier trade — an early indicator that a negative trend could be emerging. TRON's upper Bollinger Band® is at $0.075, this is a slight indication of a slowdown. TRON price action is currently oscillating around the $0.074 resistance level with prices moving above and below several times during the session. Despite this, having stamped out a session range of $0.074 to $0.075, Fibonacci-inclined TRON traders were highly concentrated around active Fibonacci resistance at $0.075.
Technical analysis of TRON price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Other markets are also showing gains as Bitcoin Cash is up 8.6%. Solana is up 9.94%. FTX Token is up 9.54%.
The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (May) is scheduled for tomorrow at 12:30 UTC.
TRON has fallen back around 10.83% from the significant high of $0.083 set 28 days ago.
