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June 17, 2023
A 20 day downtrend has resulted in the asset losing $0.217. Today is looking a bit better: Tezos is now trading at $0.717 after tracing out a steady $0.715 – $0.717 range today.
This uncertain state for Tezos is reflected by published market data as United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 15,700, while the previous figure was 8,800. Fresh CFTC S&P 500 speculative net positions data from United States came out at -331,400. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 155,100, while the previous figure was 172,400.
Tezos USD's upper Bollinger Band® is at $0.978 and the lower is $0.644. Tezos is approaching key support, around 1 cents away from $0.708. 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.
At the same time, mixed performances are seen elsewhere as FTX Token jumps 9.54% to trade around $1.36. After ending today's session at $107.95, Bitcoin Cash lost $0.766 and is trading around $107.18.
Pointing downwards for around 2 months. Tezos is now trading 42.76% below its 3-month high of $1.93.
