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June 16, 2023While on a 19 day downtrend Today is looking a bit better: without a clear-cut direction, Tezos is trading around $0.717 and ranging between $0.713 and $0.721.
Tezos's state is reflected by market data as data for United States Retail Sales released yesterday at 12:30 UTC is better than expected with 0.3%, but worse than previous figure of 0.4%. New United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000). United States Philadelphia Fed Manufacturing Index (Jun) released yesterday at 12:30 UTC with a figure of -13.7, while the previous figure was -10.4.
Tezos USD's upper Bollinger Band® is at $0.991 and the lower is $0.651. Tezos is approaching key support, around 2 cents away from $0.698. 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 rallies 9.54% to trade around $1.36. Having closed the previous session at $235.72, Binance Coin is up 0.85% today to currently trade at around $237.72.
Pointing downwards for around 2 months. Tezos has shed 39.31% over the past three months.
