Tezos cryptocurrency trades up $0.041, approximately 4.14% higher going into tomorrow

Tezos posts light gains on a low-volatility day, ranging between $0.972 – $1.03 and is now at $1.03.

Tezos USD made an initial breakout above its 5 day Simple Moving Average at $1, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $1.03 currently serving as resistance. If broken, the next Fib hurdle is expected to be $1.1. Despite this, Tezos could be slowing down soon as it approaches resistance at $1.03. Of course, crossing it might suggest further gains are ahead.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Tezos to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Tezos is expected to pick up significant bullish sentiment in the coming days.

Tezos shows positive signs, other assets are also on par: FTX Token surges 9.54% to trade around $1.36. Bitcoin moves up 3.77% to trade around $21,400. Litecoin is up 5.47% to $73.27.

Over the past 11 months, Tezos has retreated 75.56% from a noteworthy peak of $4.04.