Mixed sentiment leads Tezos cryptocurrency to trade sideways; establishes tight $1.08 to $1.11 range

Tezos recovers back to $1.1 after dipping down to $1.08 today, in a session that followed a closing value of $1.1.

Price action remains constrained around the key Fibonacci level of $1.09 currently serving as support. If price action breaks below, the next Fib hurdle is $1.05. Tezos's upper Bollinger Band® is at $1.16, suggesting that a downward move may follow. In contrast, Tezos made an initial breakout above its 3 day Simple Moving Average at $1.11, a potential indicator of a newly emerging bullish phase.

According to technical indicators, Tezos is positioned for a downward move in the short term.

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54%. Dogecoin is up 2.15% to $0.083. Having closed the previous session at $123.75, Bitcoin Cash is up 0.97% today to currently trade at around $124.95.

Registering some good gains for about a month now. Tezos is now trading 66.47% below the significant high of $3.28 it set around 11 months ago.