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May 23, 2023
TRON rallied to $0.079, hitting its highest point in 11 months. It later lost $0.001 and is now trading at $0.079.
United States Building Permits is next today at 12:00 UTC.
Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates TRON is in a strong overbought condition. Analysis based on the asset volatility indicates that TRON's upper Bollinger Band® is at $0.078, this is a slight indication of a slowdown. A study of TRON's chart reveals various key levels to watch: TRON could be slowing down soon as it approaches resistance at $0.081. Of course, crossing it might suggest further gains are ahead.
Overall, while TRON has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
TRON shows positive signs, other assets are also on par: FTX Token jumps 9.54% to trade around $1.36. Having closed the previous session at $26,854, Bitcoin is up 1.66% today to currently trade at around $27,300.
At the same time, UNICORN Token USD decreases 2.98% to trade around $6.43.
Furthermore, the market is looking at tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -920,000 from the preceding figure of 5 million.
Also worthy of note, United States New Home Sales (Apr) is scheduled for today at 14:00 UTC. United States Services PMI figure is projected at 52.6. It previously stood at 53.6; data will be released today at 13:45 UTC. United States Building Permits is expected today at 12:00 UTC.
Trading mostly sideways for 2 months. TRON has managed to gain 44.52% so far this year despite trading at lows around $0.05 previously.
