Without a clear-cut direction, Tezos is trading around $1 and ranging between $0.995 and $1.
- United States's Initial Jobless Claims new data released of 242,000 below its previous figure.
- While mostly sideways today, Tezos is on a 19 day bearish trend during which it lost $0.18.
Highly important Initial Jobless Claims data from United States beat analyst expectations of 240,000 with a reading of 242,000. United States Interest Rate released yesterday at 18:00 UTC with a figure of 5.25, while the previous figure was five.
Tezos USD is approaching key support, around 3 cents away from $0.969. 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. Tezos made an initial breakout above its 10 day Simple Moving Average at $1, a potential indicator of a newly emerging bullish phase. Tezos's upper Bollinger Band® is at $1.15 and the lower is $0.918.
Despite muted price action in Tezos, chart analysis indicates it is positioned for a bullish run in the short term.
Tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 236,000. Projections for United States Unemployment Rate are set for a continuation of decline with 3.6 while previous data was 3.5; data will be released tomorrow at 12:30 UTC.
FTX Token gained 9.54% and is now trading at $1.36. UNICORN Token USD slides down 2.98% to trade around $6.43. Bitcoin Cash goes down 1.73% to trade around $118.12.
Pointing downwards for around a month. Tezos is trading 63.25% lower compared to the $2.7 high it reached over the past year.