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April 23, 2023
Tezos is grinding lower from $1.03 to $1, shedding $0.031 (1.51%) today.
Tezos USD could begin to recover as it approaches significant support, now 2 cents away from $0.993. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Tezos peaked above its 5 day Simple Moving Average around $1.03 — typically an early indicator of a new bullish trend beginning to emerge. Tezos's lower Bollinger Band® is at $0.978, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Tezos is set to appreciate despite today's setback.
In the meantime, negative performances are also seen in other markets, Ripple stumbles 1.8% to trade around $0.464. Bitcoin Cash retreats 1.87% to trade around $119.91.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.
Trending downwards for around a month. Tezos has shed $1.96 points and is languishing 65.52% lower over the past year, leaving its yearly highs around $2.96 in the rear-view mirror.
