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June 27, 2023Tezos is on a bit of a rollercoaster today: spiking to $0.808 only to drop back to $0.798, now rallying again to $0.804.
- New United States Consumer Confidence improved upon the previous 102.5 figure while also exceeding analyst expectations with a reading of 109.7.
- Tezos has gained $0.08 over the past 12 days, and today's session seems to be adding to the current uptrend.
United States New Home Sales (May) came out at 763,000, while a consensus of analysts was expecting 675,000. Highly important Consumer Confidence data from United States beat analyst expectations of 104 with a reading of 109.7.
Concerning technical analysis and more specifically, trend indicators, Tezos USD made an initial breakout above its 5 day Simple Moving Average at $0.807, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $0.8 currently serving as resistance Asset volatility analysis shows that Tezos's upper Bollinger Band® is at $0.84, this is a slight indication of a slowdown. Technical chart analysis shows Tezos could be slowing down soon as it approaches resistance at $0.817. Of course, crossing it might suggest further gains are ahead.
Notwithstanding Tezos's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million. It previously stood at -3.83 million; data will be released tomorrow at 14:30 UTC. United States Fed Chair Powell speech scheduled to come out tomorrow at 13:30 UTC.
Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin Cash gained 4.12% and is now trading at $232.09. Having closed the previous session at $0.645, MaticNetwork USD is up 3.84% today to currently trade at around $0.67.
Pointing downwards for around 3 months. Having set a significant high of $1.93 10 months ago, Tezos is trading 58.56% lower.
