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May 18, 2023
Tezos is on a month downtrend Today is looking a bit better: without a clear-cut direction, Tezos is trading around $0.912 and ranging between $0.907 and $0.915.
United States Initial Jobless Claims is next today at 12:30 UTC.
Uncertainty around Tezos is reflected by published market data as United States Crude Oil Inventories came out at 5 million, better than analyst estimates of -920,000 and improving upon the previous reading of 2.95 million. United States Building Permits (Apr) came out at 1.42 million, while a consensus of analysts was expecting 1.44 million. United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.954, while the previous figure was 3.92.
Tezos USD's upper Bollinger Band® is at $1.03 and the lower is $0.846. Tezos is approaching key support, around 2 cents away from $0.893. 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.
Despite muted price action in Tezos, chart analysis indicates it is positioned for a bullish run in the short term.
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 is trading around $6.43 (down $0.197).
Furthermore, the market is looking at United States Philadelphia Fed Manufacturing Index (May) is expected today at 12:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released today at 12:30 UTC. United States Existing Home Sales (Apr) scheduled to come out today at 14:00 UTC.
On a negative trend for around 2 months. Having soared to a high of $2.23 approximately 11 months ago, Tezos is now trading 59.14% lower.
