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March 13, 2023
Marginally higher but lacking a clear-cut direction, Tezos is trading at $1.09 after ranging between $1.03 and $1.1 today.
Tezos is currently trading at $1.09 following the release of U.S. President Biden speech data from the United States.
Meanwhile, United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
Although up today, early price action saw Tezos USD dropping below its 10 day Simple Moving Average at $1.06 — an early indicator that a new downward trend could be emerging. Tezos could be slowing down soon as it approaches resistance at $1.07. Of course, crossing it might suggest further gains are ahead. In contrast, Fibonacci-focused traders would be interested to note that Tezos is oscillating around the key Fibonacci resistance level of $1.1.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Tezos is set for a reversal in the coming days.
Tezos shows positive signs, other assets are also on par: having closed the previous session at $22,179, Bitcoin is up 9.25% today to currently trade at around $24,230. Having closed the previous session at $290.52, Binance Coin is up 6.21% today to currently trade at around $308.55. FTX Token leaps up 9.54% to trade around $1.36.
The market is looking forward to the release of new data: United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.5%; data will be released tomorrow at 12:30 UTC. United States Consumer Price Index figure is projected at 6%. It previously stood at 6.4%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices figure is projected at 0.4%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC.
Tezos is now trading 73.69% below the significant high of $4.04 it set around 11 months ago.
