Tezos trades at $1.05 ahead of United States Services PMI today at 13:45 UTC

Small gain for Tezos at $1.05 after ranging between $1.03 and $1.05 today.

• United States Services PMI is next today at 13:45 UTC.
• In contrast to today's gains, Tezos has been on a 6 day bearish trend during which it lost $0.148 of its value.

Earlier data releases related to Tezos – 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 yesterday at 12:30 UTC with a figure of -31.3, while the previous figure was -23.2.

Here is the technical analysis of Tezos before macro data is released:

Tezos USD made an initial breakout above its 3 day Simple Moving Average at $1.04, a potential indicator of a newly emerging bullish phase. Tezos's lower Bollinger Band® is at $1.03, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Tezos is 1 cents away from testing key resistance at $1.06. Peaking above this level could inspire market bulls and open the path to further gains.

Tezos continues to move higher with technical analysis indicating the trend will continue in the short term.

Coming up for Tezos — United States Services PMI is expected today at 13:45 UTC.

As the markets get ready for more data to be released — FTX Token is up 9.54%. Binance Coin moves up 3.16% to trade around $328.45. UNICORN Token USD closed at $6.43 (down 2.98%).

Trending downwards for around a month. Tezos is now trading 66.59% below the significant high of $3.08 it set around 11 months ago.