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June 02, 2023
TRON has rallied $0.002, or 2.36%, to now stand at $0.077.
United States's Average Hourly Earnings new data released of 0.3% below its previous figure.
Uptick comes while some more positive signs for TRON are out as data for United States Non Farm Payrolls published today at 12:30 UTC came out at 339,000, beating projections of 180,000 and showing improvement over the preceding figure of 294,000.
On the flip side, United States Average Hourly Earnings published today at 12:30 UTC came out at 0.3%, falling short of the 0.4% projections and continuing its decline from the previous 0.4% figure. Highly important Unemployment Rate data from United States beat analyst expectations of 3.5 with a reading of 3.7.
Trend-following investors would be interested to note that TRON made an initial breakout above its 10 day Simple Moving Average at $0.076, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.08, thereby suggesting that TRON is becoming overvalued. TRON's notable support and resistance levels: TRON could be slowing down soon as it approaches resistance at $0.076. Of course, crossing it might suggest further gains are ahead.
Overall, the technical outlook suggests TRON is likely to remain muted for the immediate future, with no clear-cut direction.
TRON shows positive signs, other assets are also on par: FTX Token gained 9.54% and is currently trading at $1.36. Cardano rises 3.12% to trade around $0.376. Ripple improves 2.15% to trade around $0.518.
Trading mostly sideways for 2 months. TRON has gained 37.09% since its lowest print of $0.05 earlier this year.
