| 
June 09, 2023Tezos is grinding lower from $0.842 to $0.827, shedding $0.014 (1.72%) today.
United States Initial Jobless Claims published yesterday at 12:30 UTC came out at 261,000, falling short of the 235,000 projections and continuing its decline from the previous 233,000 figure.
While price action maintains a negative bias, United States CFTC Crude Oil speculative net positions released today at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600. Fresh CFTC Gold speculative net positions data from United States came out at 175,600.
Despite being in the red so far in the current trading session, Tezos USD peaked above its 3 day Simple Moving Average around $0.842 — typically an early indicator of a new bullish trend beginning to emerge. Tezos's lower Bollinger Band® is at $0.812, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Tezos could begin to recover as it approaches significant support, now 1 cents away from $0.818. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Tezos —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, TRON is down $0.005 from the beginning of the session and now trades around $0.072. Cardano is down to $0.298, losing $0.025, after closing at $0.323 in the preceding trading session.
Other assets are showing positive performances as FTX Token is up 9.54%.
On a negative trend for around 2 months. Tezos has shed $1.38 points and is languishing 62.2% lower over the past year, leaving its yearly highs around $2.23 in the rear-view mirror.
