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June 09, 2023
Slightly weaker but mostly flat: TRON is currently trading at $0.074 as it maintains an active range between $0.074 and $0.078.
Initial Jobless Claims in United States fell short of market expectations (235,000) with a reading of 261,000, continuing the decline from the previous figure of 233,000.
Amid the market gloom, United States U.S. Baker Hughes Oil Rig Count released today at 17:00 UTC with a figure of 556, while the previous figure was 555. United States U.S. Baker Hughes Total Rig Count released today at 17:00 UTC with a figure of 695, while the previous figure was 696.
TRON made an initial break below its 21 day Simple Moving Average at $0.077, a possible indication of a forthcoming negative trend. On the other hand, note that TRON's lower Bollinger Band® is at $0.073, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for TRON.
In the meantime, negative performances are also seen in other markets, Cardano dips 6.8% to trade around $0.3. Solana is trading around $17.64 (down $1.25).
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.
Trading mostly sideways for 2 months. TRON is now trading 6.27% below the significant high of $0.083 it set around 8 days ago.
