Tezos cryptocurrency trades up $0.016, approximately 2.22% higher this morning

After closing the previous trading day at $0.726, Tezos went up to $0.759 only to drop back; still positive overall today, now trading at $0.743.

United States Initial Jobless Claims is next today at 12:30 UTC.

Tezos upside coincides with further encouraging market factors as United States Crude Oil Inventories beat analyst expectations of 1.48 million and the previous reading of -451,000 with new data of 7.92 million.

Nevertheless, highly important Producer Price Index data from United States beat analyst expectations of -0.1% with a reading of -0.3%.

Meanwhile, United States Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.

Tezos USD made an initial breakout above its 5 day Simple Moving Average at $0.725, a potential indicator of a newly emerging bullish phase. Tezos's lower Bollinger Band® is at $0.671, indicating that the market is oversold and fertile for new buyers. Despite this, although Tezos is appreciating today after rising as high as $0.759, price action is now slowing and consolidating around 4 cents below the $0.781 resistance level.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Tezos to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Tezos is expected to pick up significant bullish sentiment in the coming days.

Tezos shows positive signs, other assets are also on par: FTX Token is up 9.54%. TRON is up 1.31% to $0.072. UNICORN Token USD improves 3.21% to trade around $4.55.

Also worthy of note, projections for United States Retail Sales are set for a continuation of decline with -0.1% while previous data was 0.4%; data will be released today at 12:30 UTC. Today at 12:30 UTC data for United States Core Retail Sales will be released, with an expected decline to 0.1% from the preceding figure of 0.4%.

Elsewhere, United States Philadelphia Fed Manufacturing Index (Jun) scheduled to come out today at 12:30 UTC.

Trending downwards for around 2 months. Tezos has shed 36.44% over the past three months.