Bearish Tezos mostly flat today, trading at $0.891

Tezos is on a 27 day downtrend Today is looking a bit better: Tezos trades at $0.891, after ending today at $0.892.

Tezos's state is reflected by 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. United States Initial Jobless Claims published yesterday at 12:30 UTC came out at 264,000, falling short of the 245,000 projections and continuing its decline from the previous 242,000 figure. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.50 trillion, while the previous figure was 8.50 trillion.

Trend and momentum analysis indicates that 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. According to asset volatility analysis, Tezos's upper Bollinger Band® is at $1.07 and the lower is $0.872.

With market volatility ebbing, the current technical outlook indicates Tezos will remain range-bound for the immediate future.

While Tezos is pretty flat so far today, mixed performances are seen elsewhere as FTX Token surges 9.54% to trade around $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.

On a negative trend for around a month. Tezos has fallen back around 59.9% from the significant high of $2.23 set 11 months ago.