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February 26, 2023
While Tezos in the midst of a 3 day downtrend, Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. Marginally higher but lacking a clear-cut direction, Tezos is trading at $1.21 after ranging between $1.2 and $1.22 today.
Fibonacci-focused traders would be interested to note that Tezos USD is oscillating around the key Fibonacci resistance level of $1.21. Tezos's notable support and resistance levels: after reaching the known resistance zone beginning at $1.22, Tezos price action retreated approximately 1 cents.
Other markets are also showing gains as FTX Token is up 9.54%. TRON is up 1.51%.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released tomorrow at 13:30 UTC.
Also worthy of note, tomorrow at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.
Registering some good gains for about a month now. This year has been a bright one for Tezos after trading as low as $0.715 and going on to appreciate by 69.35% year to date.
