| 
April 26, 2023
In the last 11 days, Tezos has lost a total of 14.16% of its value. More of the same today: trading lower, Tezos is currently down $0 as it ranges between $1 and $1.02 so far today.
Core Durable Goods Orders data from United States will be released today at 12:30 UTC with analysts expecting a decline to -0.2%. Potentially significant price fluctuations in Tezos are expected to follow.
United States Consumer Confidence published yesterday at 14:00 UTC came out at 101.3, falling short of the 104 projections and continuing its decline from the previous 104 figure.
Meanwhile, United States New Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 683,000, while the previous figure was 623,000. United States Building Permits came out at 1.43 million, while a consensus of analysts was expecting 1.41 million.
Technical analysis trend indicators suggest that Tezos USD made an initial break below its 5 day Simple Moving Average at $1, a possible indication of a forthcoming negative trend. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $0.96, a low enough level to, generally, suggest that Tezos is trading below its fair value. As the trading day commences, technical analysis suggests Tezos could begin to recover as it approaches significant support, now 2 cents away from $0.988. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests Tezos has no clear-cut direction.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD is trading around $6.43 (down $0.197).
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was -0.1%; data will be released today at 12:30 UTC. As things stand, upcoming United States Pending Home Sales data is projected to fall short of market expectations with newly published data of 0.5%, following on from the preceding figure of 0.8%. New data is set to be published tomorrow at 14:00 UTC.
Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with -1.49 million. It previously stood at -4.58 million; data will be released today at 14:30 UTC.
Trending downwards for around a month. Approximately 11 months ago, Tezos reached a significant high of $2.82 but has struggled to hold onto its gains and declined 63.85% since then.
