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May 06, 2023
TRON is sharply lower after losing $0.001, declining as low as $0.07.
On the flip side, data for United States Average Hourly Earnings published yesterday at 12:30 UTC came out at 0.5%, beating projections of 0.3% and showing improvement over the preceding figure of 0.3%. Highly important Non Farm Payrolls data from United States beat analyst expectations of 180,000 with a reading of 253,000. Data for United States Unemployment Rate published yesterday at 12:30 UTC came out at 3.4, beating projections of 3.6 and showing improvement over the preceding figure of 3.5.
TRON made an initial break below its 5 day Simple Moving Average at $0.07, a possible indication of a forthcoming negative trend. TRON's upper Bollinger Band® is at $0.071 which indicates a further downward move may follow. In contrast, TRON is currently alternating around $0.07 with price action moving above and below this key level throughout the session.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for TRON.
In the meantime, negative performances are also seen in other markets, after ending today's session at $88.83, Litecoin lost $4.78 and is trading around $84.05. Ethereum goes down 4.82% to trade around $1,901.44.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36.
Trading mostly sideways for a month. TRON has managed to gain 29.96% so far this year despite trading at lows around $0.05 previously.
