TRON descends $0.001 following previous session close at $0.077

After closing at $0.077 today, TRON opened today at $0.077, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, TRON retains a distinct $0.076 to $0.077 daily range.

TRON is currently trading at $0.076 following the release of Core PCE Price Index (MoM) (Apr) data from the United States.

Core Durable Goods Orders in United States fell short of market expectations (0%) with a reading of -0.2%, continuing the decline from the previous figure of 0.3%. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

Chart analysis suggests TRON is currently alternating around $0.077 with price action moving above and below this key level throughout the session. Trend-focused traders would be interested to note that despite being in the red so far in the current trading session, TRON peaked above its 5 day Simple Moving Average around $0.077 — typically an early indicator of a new bullish trend beginning to emerge. Japanese candlestick formations show a "hanging man” chart pattern. When appearing at the top of a bullish trend, it is typically considered to be an indication of a trend reversal. Asset volatility analysis shows that TRON's upper Bollinger Band® is at $0.08 which indicates a further downward move may follow.

Notwithstanding TRON's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.

Positive performances can be seen by looking at other markets as FTX Token rallies 9.54% to trade around $1.36. Ripple is up 2.13%.

Trading mostly sideways for 2 months. This year has been a bright one for TRON after trading as low as $0.05 and going on to appreciate by 41.55% year to date.