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May 15, 2023
After closing at $0.889 today, Tezos began today at $0.889 with significant bullish sentiment driving Tezos's price action higher. So far today, price action has drawn out a distinct $0.88 to $0.904 range.
Meanwhile, United States NY Empire State Manufacturing Index (May) came out at -31.8, while a consensus of analysts was expecting -3.7.
Tezos USD made an initial breakout above its 5 day Simple Moving Average at $0.895, a potential indicator of a newly emerging bullish phase. Tezos's lower Bollinger Band® is at $0.846, indicating that the market is oversold and fertile for new buyers. Despite this, Tezos broke through the $0.894 resistance and climbed 1 cents above it.
Examining the technical analysis landscape, Tezos might continue its downtrend in the short term.
Other markets are also showing gains as FTX Token is up 9.54%. Having closed the previous session at $83.64, Litecoin is up 4.35% today to currently trade at around $87.28. Bitcoin is up 1.71%.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Retail Sales is projected to outperform its last figure with 0.7%. It previously stood at -0.6%; data will be released tomorrow at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.4%; data will be released tomorrow at 12:30 UTC.
Trending downwards for around 2 months. Tezos reached a significant high of $2.23 around 11 months ago but has lost 60.06% since then.
