TRON cryptocurrency trades up $0.001, approximately 1.24% higher this afternoon

TRON trades at $0.066 after gaining $0.001 (1.24%).

United States Philadelphia Fed Manufacturing Index (Apr) is next today at 12:30 UTC.

Nevertheless, following a previous reading of 597,000, Crude Oil Inventories in United States released yesterday at 14:30 UTC fell short of the -1 million figure expected by analysts with an actual reading of -4.58 million.

At the same time, United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909. United States Cushing Crude Oil Inventories came out at -1 million, while a consensus of analysts was expecting 622,000.

Although up today, early price action saw TRON dropping below its 50 day Simple Moving Average at $0.065 — an early indicator that a new downward trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.067, thereby suggesting that TRON is becoming overvalued. TRON could be slowing down soon as it approaches resistance at $0.067. Of course, crossing it might suggest further gains are ahead.

Technical analysis of TRON price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.

TRON shows positive signs, other assets are also on par: FTX Token is up 9.54%. Dogecoin increases 3.98% to trade around $0.092.

At the same time, UNICORN Token USD closed at $6.43 (down 2.98%).

Furthermore, the market is looking at 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 239,000.

Also worthy of note, United States Philadelphia Fed Manufacturing Index (Apr) is scheduled for today at 12:30 UTC. United States Existing Home Sales (Mar) will be released today at 14:00 UTC.

Trading mostly sideways for 30 days. Having set a significant low of $0.05 5 months ago, TRON is trading 31.28% higher.