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April 20, 2023
A mostly flat day so far for Tezos, ranging between $1.05 and $1.07; currently at $1.05.
- Tezos is currently trading at $1.05 following the release of Existing Home Sales (Mar) data from the United States.
- While flat so far today, Tezos is on a 5 day bearish trend during which it lost $0.121 of its value.
United States Existing Home Sales (Mar) came out at 4.44 million, while a consensus of analysts was expecting 4.5 million. United States Philadelphia Fed Manufacturing Index (Apr) released today at 12:30 UTC with a figure of -31.3, while the previous figure was -23.2.
A study of Tezos's chart reveals various key levels to watch: Tezos USD is approaching key support, around 2 cents away from $1.04. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Price action remains constrained around the key Fibonacci level of $1.05 currently serving as support. If price action breaks below, the next Fib hurdle is $0.989. Analysis based on the asset volatility indicates that Tezos's upper Bollinger Band® is at $1.18 and the lower is $1.05.
Overall, the technical outlook suggests Tezos is likely to remain muted for the immediate future, with no clear-cut direction.
Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. Algorand USD slips 2.19% to trade around $0.195.
Trading mostly sideways for a month. Tezos reached a significant high of $3.15 around a year ago but has lost 66.4% since then.
