Tezos ended the previous session at $1.12; currently trading at $1.11

Tezos weakened earlier in the day, before moving away from its $1.1 low and recovering back to $1.11.

United States JOLTs Job Openings (Feb) is next today at 14:00 UTC.

Amid the market gloom, United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5. United States ISM Manufacturing Employment (Mar) released yesterday at 14:00 UTC with a figure of 46.9, while the previous figure was 49.1. United States ISM Manufacturing Prices (Mar) released yesterday at 14:00 UTC with a figure of 49.2, while the previous figure was 51.3.

Analysis of Tezos's recent price action suggests Tezos USD could begin to recover as it approaches significant support, now 3 cents away from $1.08. Dipping below could be an indication that further losses are ahead. Trend analysis indicates that Tezos made an initial break below its 10 day Simple Moving Average at $1.11, a possible indication of a forthcoming negative trend. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $1.04, a low enough level to, generally, suggest that Tezos is trading below its fair value.

Overall, the technical outlook suggests Tezos is likely to remain muted for the immediate future, with no clear-cut direction.

Other assets are showing positive performances as FTX Token gained 9.54% and is currently trading at $1.36. Dogecoin is up 4.32% to $0.1. TRON is up 0.91%.

Some optimism can drawn from the fact that United States Crude Oil Inventories is projected to outperform its last figure with -1.8 million, having previously been at -7.49 million. The figure will be published tomorrow at 14:30 UTC.

Furthermore, United States ADP Nonfarm Employment Change (Mar) is scheduled for tomorrow at 12:15 UTC. United States JOLTs Job Openings (Feb) will be released today at 14:00 UTC.

Tezos is trading 71.54% lower compared to the $3.9 high it reached over the past year.