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April 19, 2023
Tezos crashes after losing $0.088, breaking down to $1.07.
United States's Crude Oil Inventories new data released of -4.58 million below its previous figure.
Highly important Crude Oil Inventories data from United States beat analyst expectations of -1 million with a reading of -4.58 million.
While price action maintains a negative bias, United States Building Permits (Mar) came out at 1.41 million, while a consensus of analysts was expecting 1.45 million. United States 20-Year Bond Auction released today at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909.
Tezos USD broke through the $1.14 support line and dropped 6 cents below it. Tezos made an initial break below its 200 day Simple Moving Average at $1.1, a possible indication of a forthcoming negative trend. After descending below strong Fibonacci support at $1.09, market bears have earmarked $1.05 as the next downside target. Tezos's upper Bollinger Band® is at $1.18 which indicates a further downward move may follow.
Looking forward, Tezos is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, EOS is down $0.093 from the beginning of the session and now trades around $1.13. After ending today's session at $101.78, Litecoin lost $7.36 and is trading around $94.42. Ripple is down to $0.497, losing $0.036, after closing at $0.533 in the preceding trading session.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 240,000, following on from the preceding figure of 239,000. New data is set to be published tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Apr) scheduled to come out tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) will be released tomorrow at 14:00 UTC.
Registering some good gains for about a month now. Since its 52-week high of $3.23, Tezos has lost 64.06% over the last twelve months.
