Losing streak continues: Tezos down $0.009 to $0.896 adding to its four days of losses

Late into the session, Tezos loses $0.009 (0.98%), currently trading at $0.896.

United States ADP Nonfarm Employment Change (May) is next today at 12:15 UTC.

Amid the market gloom, United States JOLTs Job Openings (Apr) came out at 10.10 million, while a consensus of analysts was expecting 9.78 million. United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of 5.20 million, while the previous figure was -6.80 million. Fresh OPEC Crude Oil Production Algeria (Barrel) data from United States came out at 960,000.

Tezos USD made an initial break below its 21 day Simple Moving Average at $0.9, a possible indication of a forthcoming negative trend. Tezos's upper Bollinger Band® is at $0.932 which indicates a further downward move may follow. On the other hand, note that Tezos could begin to recover as it approaches significant support, now 1 cents away from $0.888. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems Tezos is likely to start pointing downward in the short term.

In the meantime, negative performances are also seen in other markets, Cardano closed at $0.365 (down 2.53%). Bitcoin closed at $26,781 (down 1.67%).

Other assets are showing positive performances as FTX Token added 9.54% to its value, now trading at $1.36.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Non Farm Payrolls are set for a continuation of decline with 180,000 while previous data was 253,000; data will be released tomorrow at 12:30 UTC.

Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million, having previously been at -12.46 million. The figure will be published today at 15:00 UTC.

Furthermore, United States ADP Nonfarm Employment Change (May) is expected today at 12:15 UTC.

Pointing downwards for around 2 months. Over the past 11 months, Tezos has retreated 59.33% from a noteworthy peak of $2.23.