Tezos is consolidating around the $0.982 level after dropping $0.018 at the start of the trading session.
Tezos USD made an initial break below its 10 day Simple Moving Average at $0.985, a possible indication of a forthcoming negative trend. Despite this, Tezos could begin to recover as it approaches significant support, now 1 cents away from $0.995. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Tezos to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Tezos is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, after ending today's session at $1,202.51, Ethereum lost $26 and is trading around $1,176.49. Solana is down to $14.02, losing $0.451, after closing at $14.47 in the preceding trading session.
Other assets are showing positive performances as having closed the previous session at $1.38, FTX Token is up 2.25% today to currently trade at around $1.41.
Trending downwards for around 2 months. Having set a significant high of $5.68 4 days ago, Tezos is trading 7.35% lower.