| 
March 01, 2023
After closing the previous trading day at $1.14, Tezos went up to $1.19 only to drop back; still positive overall today, now trading at $1.19.
United States ISM Manufacturing PMI (Feb) is next today at 15:00 UTC.
On the flip side, Consumer Confidence in United States fell short of market expectations (108.5) with a reading of 102.9, continuing the decline from the previous figure of 106.
Meanwhile, United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of 6.20 million, while the previous figure was 9.89 million. United States Chicago PMI (Feb) came out at 43.6, while a consensus of analysts was expecting 45.
Tezos USD broke through the $1.18 resistance, climbing 1 cents above it. Tezos made an initial breakout above its 21 day Simple Moving Average at $1.17, a potential indicator of a newly emerging bullish phase. Crossed the $1.17 Fibonacci level, next level is at $1.21.
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: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin is up 2.55%. MaticNetwork USD is up 4.74%.
Also worthy of note, United States Crude Oil Inventories expected to decline to 457,000 while its preceding data was 7.65 million, data will be available today at 15:30 UTC. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 195,000, following on from the preceding figure of 192,000. New data is set to be published tomorrow at 13:30 UTC.
Furthermore, the market is looking at United States ISM Manufacturing PMI (Feb) will be released today at 15:00 UTC.
Trending positively for about 2 months. Tezos has fallen back around 71.76% over the past 10 months, from a notable high of $4.04.
