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June 02, 2023Tezos posts light gains on a low-volatility day, ranging between $0.881 – $0.894 and is now at $0.894.
Uptick comes while some more positive signs for Tezos are out as United States Crude Oil Inventories beat analyst expectations of -1.10 million and the previous reading of -12.46 million with new data of 4.49 million. Highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 232,000.
At the same time, United States ISM Manufacturing PMI (May) came out at 46.9, while a consensus of analysts was expecting 47.
Tezos USD could be slowing down soon as it approaches resistance at $0.902. Of course, crossing it might suggest further gains are ahead. Tezos's upper Bollinger Band® is at $0.931, this is a slight indication of a slowdown.
Examining the technical analysis landscape, Tezos is likely to reverse course and start pointing downward in the short term.
Tezos shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. Ripple added 1.61% to its value, now trading at $0.515.
Meanwhile, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
Furthermore, the market is looking at projections for United States Non Farm Payrolls are set for a continuation of decline with 180,000 while previous data was 253,000; data will be released today at 12:30 UTC. Today at 12:30 UTC data for United States Average Hourly Earnings will be released, with an expected decline to 0.4% from the preceding figure of 0.5%. United States Unemployment Rate expected to decline to 3.5 while its preceding data was 3.4, data will be available today at 12:30 UTC.
Pointing downwards for around 2 months. Having set a significant high of $2.23 11 months ago, Tezos is trading 60.16% lower.
