Tezos cryptocurrency trades up $0.014, approximately 1.26% higher this afternoon

Tentatively higher from an earlier low of $1.14, Tezos is up to $1.16 today, adding $0.014, or 1.26%, to today's closing price of $1.14.

Tezos is currently trading at $1.16 following the release of Building Permits (Mar) data from the United States.

At the same time, United States Building Permits (Mar) came out at 1.41 million, while a consensus of analysts was expecting 1.45 million. Following a previous reading of 7.3%, Housing Starts in United States released today at 12:30 UTC fell short of the 0.4% figure expected by analysts with an actual reading of -0.8%. United States Building Permits released today at 12:30 UTC with a figure of -8.8%, while the previous figure was 15.8%.

Tezos USD made an initial breakout above its 5 day Simple Moving Average at $1.16, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $1.14 to $1.17, Fibonacci-inclined Tezos traders were highly concentrated around active Fibonacci resistance at $1.15. Despite this, Tezos is 1 cents away from testing key resistance at $1.17. Peaking above this level could inspire market bulls and open the path to further gains. Tezos's upper Bollinger Band® is at $1.17, this is a slight indication of a slowdown.

Overall, looking at the technical analysis landscape, it seems Tezos likely to continue pointing upward in the short term.

Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $8.17, Chainlink USD is up 5.78% today to currently trade at around $8.64. Having closed the previous session at $29,447, Bitcoin is up 2.34% today to currently trade at around $30,135.

Also worthy of note, tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.46 million from the preceding figure of 597,000.

On an upward trend for about a month now. Having soared to a high of $3.23 approximately 11 months ago, Tezos is now trading 64.6% lower.