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May 22, 2023
Tezos recovers back to $0.896 after dipping down to $0.887 today, in a session that followed a closing value of $0.897.
Trend-following investors would be interested to note that Tezos USD made an initial break below its 10 day Simple Moving Average at $0.897, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that Tezos's upper Bollinger Band® is at $0.995 and the lower is $0.841. Technical analysis shows that after reaching the $0.891 support zone, Tezos bounced and climbed 1 cents above it.
Overall, technical indicators suggest Tezos has no obvious direction for the immediate future.
Other markets show mixed performance as FTX Token soars 9.54% to trade around $1.36. Having closed the previous session at $0.075, TRON is up 3.92% today to currently trade at around $0.078. UNICORN Token USD is trading around $6.43 (down $0.197).
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States New Home Sales (Apr) is scheduled for tomorrow at 14:00 UTC. United States Services PMI figure is projected at 52.6. It previously stood at 53.6; data will be released tomorrow at 13:45 UTC. United States Building Permits scheduled to come out tomorrow at 12:00 UTC.
On a negative trend for around 2 months. Tezos is now trading 31.27% below its 3-month high of $2.23.
