- A relative number of falls has featured in the market’s valuation of XTZ/USD.
- A downward breach at the $2 mark, will lead XTZ/USD price trading lower around the i$1.8 major accumulation territory afterward.
- XTZ/USD market is likely to make rebound northwards a bit above the $2.4 mark.
Tezos (XTZ) Price Analysis
- Major distribution territories: $2.6, $2.8, $3
- Major accumulation territories: $1.8, $1.6, $1.4
There have a relative number of falls in the market’s valuation of Tezos as traded against the US dollar’s price worth. On April 18, the crypto surged northbound higher to a closely average $2.4 mark. Price has been trading towards a low value at $2 line.
A further downward breach of the $2 mark, will potentially lead the crypto market’s value to trade lower around the i$1.8 immediate major accumulation territory. Meanwhile, the bulls’ failure at that point will cause more sell-offs through some major accumulation territories afterward.
Tezos (XTZ) Technical Indicators Reading
The 50-day SMA indicator, still to some extent, points to the north direction a bit above the $2 mark. A line of bearish Japanese candlesticks has occurred to touch the SMA trading indicator. That signifies a correction in the crypto’s price earlier upswings. The Lower Bollinger Band lies closer below the SMA trend-line to give strength to it. That showcases the potential of seeing the bulls regaining power from that point The Stochastic Oscillators have moved downward slightly start a consolidation moves around range 20. That signals the necessary need to stay away from placing a position for a while.
As XTZ/USD market now trades around the 50-day SMA trend-line and, the Lower Bollinger Band, the crypto is more likely to make rebound northwards a bit above the $2.4 mark closely averaged earlier on. Any rejections around a low value at $2 line, may signal a good entry of the XTZ/USD bullish market trading zone.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.