After three days of going down, Tezos is flat today, hovering around $0.893

Tezos recovers back to $0.893 today after dipping down to $0.865, in a session that follows a previous closing value of $0.892.

This uncertain state for Tezos is reflected by published market data as United States Producer Price Index released earlier showed a marked improvement to 0.2% from the preceding data of -0.4%, but fell short of the 0.3% figure forecast by a consensus of market analysts. Following a previous reading of 242,000, Initial Jobless Claims in United States released yesterday at 12:30 UTC fell short of the 245,000 figure expected by analysts with an actual reading of 264,000. United States CFTC Crude Oil speculative net positions released today at 20:30 UTC with a figure of 216,600, while the previous figure was 214,800.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Tezos's upper Bollinger Band® is at $1.07 and the lower is $0.86. As the trading day comes to an end, chart analysis indicates after reaching the $0.866 support zone, Tezos bounced and climbed 3 cents above it.

The current technical outlook indicates Tezos will continue to ebb sideways within tight ranges for the immediate future.

While Tezos is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. TRON gained 1.79% and is now trading at $0.069. Chainlink USD goes up 3.84% to trade around $6.61.

Pointing downwards for around a month. Tezos has fallen back around 59.9% over the past 11 months, from a notable high of $2.23.