Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Cryptopolitan 2021-09-26 08:19:45

Tezos price analysis: Tezos is bearish for the next 24 hours

TL;DR Breakdown Tezos price analysis is bearish for the next 24 hours.Tezos saw a bounce from $6 support today.Further upside currently gets rejected. The market is resisting any more progress in the direction of $7.5, which was strong support earlier this week. As a result, we expect XTZ/USD to attempt to test the $7.0 support again soon. Tezos price movement in the last 24 hours: Tezos bounces from key support levels After a recent decline, XTZ/USD is now pushing higher. The pair was up over 5% at one point today, and after testing resistance at $6.19, it moved to $6.48 before slipping back to the upper boundary of its daily range. Trading volume has been pretty low this morning; as of writing, it stands at $157m. The daily chart’s Stochastic indicator is on the move up to indicate a return in bullish momentum. However, RSI hasn’t followed suit, which suggests that Tezos’ climb might have already ended. This means that a drop towards the $6.00 area could come pretty soon. The 7-day SMA has formed a bearish crossover with lower highs and higher lows, confirming the current trend reversal. XTZ/USD briefly touched on $7.50 before it took another tumble below $7.0 Tezos price analysis 4-hour chart: XTZ to go for another test of the $6 support? On the hourly chart, we can see that the Tezos price has failed to move significantly higher today, suggesting another bearish trend overnight. XTZ/USD 4-hour chart. Sou...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.