Tezos goes up to $1.1, having dipped down to $1.07 earlier.
- United States Pending Home Sales data will be released today at 15:00 UTC, with an expected improvement to -0.9% (previous figure was -4%).
- Tezos has gained $0.141 over the past 9 days, and today's session seems to be adding to the current uptrend.
Earlier data releases related to Tezos – United States Core PCE Price Index (MoM) (Dec) came out at 0.3, while a consensus of analysts was expecting 0.3. United States New Home Sales (Dec) released yesterday at 15:00 UTC with a figure of 616,000, while the previous figure was 602,000.
Technical analysis of Tezos before macro data is released:
Tezos USD could be slowing down soon as it approaches resistance at $1.11. Of course, crossing it might suggest further gains are ahead. Although up today, early price action saw Tezos dropping below its 5 day Simple Moving Average at $1.09 — an early indicator that a new downward trend could be emerging. Tezos's upper Bollinger Band® is at $1.19, this is a slight indication of a slowdown.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Tezos is set for a reversal in the coming days.
Coming up for Tezos — United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released today at 15:00 UTC.
As the markets get ready for more data to be released — having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. TRON ascends 1.56% to trade around $0.063. EOS is up 1.98%.
This year has been a bright one for Tezos after trading as low as $0.715 and going on to appreciate by 51.74% year to date.