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March 09, 2023
Tezos is on a bit of a rollercoaster today: spiking to $1.06 only to drop back to $1.03, now rallying again to $1.05.
United States's Initial Jobless Claims new data released of 211,000 below its previous figure.
Nevertheless, highly important Initial Jobless Claims data from United States beat analyst expectations of 195,000 with a reading of 211,000. Highly important Crude Oil Inventories data from United States beat analyst expectations of 395,000 with a reading of -1.69 million.
Meanwhile, United States JOLTs Job Openings (Jan) released yesterday at 15:00 UTC with a figure of 10.82 million, while the previous figure was 11.23 million.
Tezos USD made an initial breakout above its 3 day Simple Moving Average at $1.06, a potential indicator of a newly emerging bullish phase. Tezos's lower Bollinger Band® is at $1, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Tezos could be slowing down soon as it approaches resistance at $1.09. Of course, crossing it might suggest further gains are ahead.
Tezos continues to move higher with technical analysis indicating the trend will continue in the short term.
Tezos shows positive signs, other assets are also on par: FTX Token gained 9.54% and is currently trading at $1.36. EOS gained 3.17% and is now trading at $1.16.
Meanwhile, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
Also worthy of note, United States Non Farm Payrolls projected to decline to 205,000 while previous data was 517,000; data will be released tomorrow at 13:30 UTC.
Furthermore, the market is looking at United States Unemployment Rate is expected tomorrow at 13:30 UTC.
Approximately 11 months ago, Tezos reached a significant high of $4.04 but has struggled to hold onto its gains and declined 74.54% since then.
