Is it the end of Tezos's rally? After three days of gains, it is down by 1.6% today

Tezos drops from $1.34 to $1.32, losing $0.022 (1.6%) today.

GDP in United States fell short of market expectations (2.9) with a reading of 2.7, continuing the decline from the previous figure of 3.2.

On the flip side, United States Crude Oil Inventories released yesterday at 16:00 UTC is better than expected at 7.65 million but down from preceding data of 16.28 million according to new data. Highly important Initial Jobless Claims data from United States beat analyst expectations of 200,000 with a reading of 192,000.

As the day gets underway, chart analysis suggests Tezos USD could begin to recover as it approaches significant support, now 3 cents away from $1.3. Dipping below could be an indication that further losses are ahead. Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Tezos's upper Bollinger Band® is at $1.36 which indicates a further downward move may follow.

Notwithstanding Tezos's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36. UNICORN Token USD is up 1.62%.

Furthermore, United States Core PCE Price Index (MoM) (Jan) will be released today at 13:30 UTC. United States New Home Sales (Jan) will be released today at 15:00 UTC.

On an upward trend for about a month now. Tezos has gained 86.64% since its lowest print of $0.715 earlier this year.