Bearish Tezos mostly flat today, trading at $1.03

Tezos is on a 13 day downtrend Today is looking a bit better: Tezos trades at $1.03, after ending today at $1.03.

Uncertainty around Tezos is reflected by published market data as following a previous reading of 0.8%, Pending Home Sales in United States released yesterday at 14:00 UTC fell short of the 0.5% figure expected by analysts with an actual reading of -5.2%. GDP in United States fell short of market expectations (two) with a reading of 1.1, continuing the decline from the previous figure of 2.6. Highly important Initial Jobless Claims data from United States beat analyst expectations of 248,000 with a reading of 230,000.

As the trading day commences, technical analysis suggests Tezos USD is approaching key support, around 1 cents away from $1. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend analysis indicates that Tezos made an initial break below its 10 day Simple Moving Average at $1.03, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that Tezos's upper Bollinger Band® is at $1.2 and the lower is $0.953.

Overall, technical indicators suggest Tezos has no obvious direction for the immediate future.

While Tezos is pretty flat so far today, mixed performances are seen elsewhere as FTX Token gained 9.54% and is currently trading at $1.36. UNICORN Token USD closed at $6.43 (down 2.98%).

Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Mar) is expected today at 12:30 UTC.

On a negative trend for around a month. Having set a significant high of $2.8 a year ago, Tezos is trading 63.21% lower.