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May 13, 2023
Tezos is grinding lower from $0.895 to $0.887, shedding $0.008 (0.93%) today.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 216,600, while the previous figure was 214,800. Fresh CFTC Gold speculative net positions data from United States came out at 195,800. United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 21,400, while the previous figure was 13,300.
Tezos USD could begin to recover as it approaches significant support, now 2 cents away from $0.866. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Tezos peaked above its 3 day Simple Moving Average around $0.896 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.859, a low enough level to, generally, suggest that Tezos is trading below its fair value.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Tezos is set to appreciate despite today's setback.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43. Bitcoin Cash is down to $113.3, losing $1.67, after closing at $114.98 in the preceding trading session.
Other assets are showing positive performances as FTX Token is up 9.54%.
Trending downwards for around a month. Tezos is now trading 59.78% below the significant high of $2.23 it set around 11 months ago.
