Bearish Tezos currently $0.008 lower after trading as high as $0.825

Tezos recovering almost all the way back to $0.822 today, after dipping down to $0.807.

Tezos USD made an initial break below its 5 day Simple Moving Average at $0.807, a possible indication of a forthcoming negative trend. Tezos's upper Bollinger Band® is at $0.855 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 $0.814. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Tezos to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Tezos is expected to attract significant bearish sentiment in the coming days.

Positive performances can be seen by looking at other markets as Bitcoin Cash is up 12.93%. Having closed the previous session at $1.4, NEAR Protocol is up 13.39% today to currently trade at around $1.59. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

In addition, United States Core Durable Goods Orders is projected to outperform its last figure with -0.2%. It previously stood at -0.3%; data will be released tomorrow at 12:30 UTC.

Furthermore, United States Building Permits scheduled to come out tomorrow at 12:00 UTC. United States New Home Sales (May) is scheduled for tomorrow at 14:00 UTC.

Pointing downwards for around 3 months. Tezos has fallen back around 57.28% over the past 10 months, from a notable high of $1.93.