Losing streak continues: Tezos down $0.007 to $1.21 adding to its four days of losses

Struggling to find upward momentum, Tezos has shed $0.007 to currently trade at $1.21 as it ranges between $1.2 and $1.21 so far today.

United States Core Durable Goods Orders data will be released today at 13:30 UTC, with an expected improvement to 0.1%. Tezos reaction to indicator information will follow.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. Price action remains constrained around the key Fibonacci level of $1.21 currently serving as support. If price action breaks below, the next Fib hurdle is $1.17. In contrast, Tezos could begin to recover as it approaches significant support, now 1 cents away from $1.19. Dipping below could be an indication that further losses are ahead.

Looking forward, Tezos is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD withdraws 2.98% to trade around $6.43. Cardano is down to $0.363, losing $0.006, after closing at $0.368 in the preceding trading session.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is currently trading at $1.36.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.

In addition, United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%, having previously been at -0.2%. The figure will be published today at 13:30 UTC. United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released tomorrow at 15:00 UTC.

Registering some good gains for about a month now. Tezos has recovered 69.63% since descending to a significant low of $0.715 around a month ago.