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February 22, 2023
Tezos has rallied $0.068, or 5.56%, to now stand at $1.29.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
At the same time, United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.
Tezos USD made an initial breakout above its 200 day Simple Moving Average at $1.24, a potential indicator of a newly emerging bullish phase. Despite this, although Tezos is appreciating today after rising as high as $1.4, price action is now slowing and consolidating around 9 cents below the $1.37 resistance level. Tezos's upper Bollinger Band® is at $1.3, this is a slight indication of a slowdown.
Overall, looking at the technical analysis landscape, it seems Tezos likely to continue pointing upward in the short term.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Meanwhile, Bitcoin Cash is down to $138.36, losing $6.81, after closing at $145.18 in the preceding trading session. Bitcoin is down to $23,775, losing $674.3, after closing at $24,449 in the preceding trading session.
Furthermore, the market is looking at United States Crude Oil Inventories projected to decline to 1.17 million while previous data was 16.28 million; data will be released tomorrow at 16:00 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 200,000 while previous data was 194,000; data will be released tomorrow at 13:30 UTC.
Furthermore, the market is looking at United States GDP figure is projected at 2.9. It previously stood at 2.9; data will be released tomorrow at 13:30 UTC.
On an upward trend for about a month now. Tezos has gained 83.66% since its lowest print of $0.715 earlier this year.
