Tezos drops from $0.952 to $0.941, losing $0.011 (1.14%) today.
- Retail Sales data from United States will be released today at 13:30 UTC with analysts expecting a decline to -0.1%. Potentially significant price fluctuations in Tezos are expected to follow.
- Today's losses are adding to a 13 day bearish run, during which Tezos lost $0.076 of its value.
Earlier data releases related to Tezos – United States Interest Rate released yesterday at 19:00 UTC with a figure of 4.5, while the previous figure was four. United States Crude Oil Inventories came out at 10.23 million, better than analyst estimates of -3.60 million and improving upon the previous reading of -5.19 million.
Here is the technical analysis of Tezos before its data is released:
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. Tezos's upper Bollinger Band® is at $1.03 which indicates a further downward move may follow. On the other hand, note that Tezos could begin to recover as it approaches significant support, now 2 cents away from $0.936. Dipping below could be an indication that further losses are ahead.
In the short term, Tezos is expected to maintain its recent downtrend and continue spiralling lower.
Coming up for Tezos — United States Retail Sales projected to come out at -0.1% — worse than previous data of 1.3%; data will be released today at 13:30 UTC. Projections for United States Core Retail Sales are set for a continuation of decline with 0.2% while previous data was 1.3%; data will be released today at 13:30 UTC.
As the markets get ready for more data to be released — Cardano is down to $0.3, losing $0.008, after closing at $0.308 in the preceding trading session. Ripple is down to $0.38, losing $0.006, after closing at $0.386 in the preceding trading session. Ethereum slumps 1.51% to trade around $1,289.67.
Trending downwards for around 3 months. Tezos is now trading 81.28% below the significant high of $5.08 it set around 11 months ago.