Tezos down to $0.903 for the first time in 3 months

Tezos reaches its lowest point in 3 months after dropping $0.008 to $0.903.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates Tezos is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $0.912, a low enough level to, generally, suggest that Tezos is trading below its fair value. As the day gets underway, chart analysis suggests Tezos could begin to recover as it approaches significant support, now 3 cents away from $0.879. Dipping below could be an indication that further losses are ahead.

With market volatility ebbing, the current technical outlook indicates Tezos will remain range-bound for the immediate future.

Looking ahead, ongoing depreciation may be prolonged as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -1.6 million from the preceding figure of -1.28 million.

Furthermore, United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC. United States Consumer Price Index figure is projected at 5%. It previously stood at 5%; data will be released tomorrow at 12:30 UTC.

Trending downwards for around a month. 10 months ago Tezos reached a significant high of $2.23 but has consequently lost 59% since then.