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April 27, 2023
Marginally higher but lacking a clear-cut direction, Tezos is trading at $1 after ranging between $1 and $1.03 today.
Tezos upside coincides with further encouraging market factors as highly important Core Durable Goods Orders data from United States beat analyst expectations of -0.2% with a reading of 0.3%.
Nevertheless, highly important Crude Oil Inventories data from United States beat analyst expectations of -1.49 million with a reading of -5 million.
At the same time, United States 5-Year Note Auction released yesterday at 17:00 UTC with a figure of 3.5, while the previous figure was 3.665.
Tezos USD made an initial breakout above its 5 day Simple Moving Average at $1, a potential indicator of a newly emerging bullish phase. Tezos's lower Bollinger Band® is at $0.945, indicating that the market is oversold and fertile for new buyers. Despite this, Tezos could be slowing down soon as it approaches resistance at $1.04. Of course, crossing it might suggest further gains are ahead.
Examining the technical analysis landscape, Tezos might continue its downtrend 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. Bitcoin ascends 1.12% to trade around $28,743.
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 Pending Home Sales expected to decline to 0.5% while its preceding data was 0.8%, data will be available today at 14:00 UTC. Today at 12:30 UTC data for United States GDP will be released, with an expected decline to two from the preceding figure of 2.6. Today at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 248,000 from the preceding figure of 245,000.
Trending downwards for around a month. Since its 52-week high of $2.82, Tezos has lost 64.62% over the last twelve months.
