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June 30, 2023Tentatively higher from an earlier low of $0.765, Tezos is up to $0.8 today, adding $0.031, or 4.2%, to today's closing price of $0.769.
United States Core PCE Price Index (MoM) (May) is next today at 12:30 UTC.
This move comes while some more positive signs for Tezos are out as highly important GDP data from United States beat analyst expectations of 1.4 with a reading of two. United States Initial Jobless Claims came out at 239,000, better than analyst estimates of 266,000 and improving upon the previous reading of 265,000.
Nevertheless, highly important Pending Home Sales data from United States beat analyst expectations of -0.5% with a reading of -2.7%.
Visual analysis of Tezos's chart shows that Tezos USD broke through the $0.78 resistance and climbed above it 2 cents; next resistance level is at $0.791. Trend-focused traders would be interested to note that Tezos made an initial breakout above its 10 day Simple Moving Average at $0.783, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $0.765 to $0.804, Fibonacci-inclined Tezos traders were highly concentrated around active Fibonacci resistance at $0.8. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $0.833, thereby suggesting that Tezos is becoming overvalued.
Notwithstanding Tezos's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Tezos shows positive signs, other assets are also on par: Bitcoin Cash added 20.6% to its value, now trading at $306.42. Litecoin is up 15.44% to $97.84. EOS gained 8.57% and is currently trading at $0.736.
Also worthy of note, United States Core PCE Price Index (MoM) (May) is scheduled for today at 12:30 UTC.
Pointing downwards for around 3 months. Tezos is now trading 30.71% below its 3-month high of $1.93.
