After five days of going up, Tezos is down $0.009 today

Tezos is grinding lower from $1.14 to $1.13, shedding $0.009 (0.82%) today.

United States Initial Jobless Claims released earlier showed a marked improvement to 228,000 from the preceding data of 246,000, but fell short of the 200,000 figure forecast by a consensus of market analysts.

While price action maintains a negative bias, United States Reserve Balances with Federal Reserve Banks released yesterday at 20:30 UTC with a figure of 3.38 trillion, while the previous figure was 3.40 trillion. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.63 trillion, while the previous figure was 8.71 trillion.

Tezos USD made an initial break below its 200 day Simple Moving Average at $1.13, a possible indication of a forthcoming negative trend. Tezos's upper Bollinger Band® is at $1.18 which indicates a further downward move may follow. On the other hand, note that Tezos could begin to recover as it approaches significant support, now 1 cents away from $1.12. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems Tezos is likely to continue pointing down in the short term.

Positive performances can be seen by looking at other markets as FTX Token jumps 9.54% to trade around $1.36. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

Looking ahead, ongoing depreciation may be prolonged as United States Non Farm Payrolls projected to decline to 239,000 while previous data was 311,000; data will be released today at 12:30 UTC.

Furthermore, United States Unemployment Rate figure is projected at 3.6. It previously stood at 3.6; data will be released today at 12:30 UTC.

Trending positively for about 30 days. Tezos has fallen back around 66.43% over the past a year, from a notable high of $3.38.