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Tezos price analysis: XTZ/USD is bearish on short term basis; it is likely to break lower low in the next 24 hours

Tezos price analysis
TL;DR Breakdown

Tezos price analysis shows a downtrend
Support for XTZ prices is present at $1.5.
Tezos found resistance at $2.5.

Tezos price analysis found support at $1.5 and resistance at $2.5. The coin is currently trading below both these levels and is expected to continue its downward trend in the near future. However, XTZ prices might find some support at $1.4, which is a key level to watch out for.

As mentioned earlier, Tezos prices have been on a downtrend over the past few days. The coin found support at $1.5 and resistance at $2.5. However, it has now broken below the $1.5 level and is currently trading at $1.4. This is a key level to watch out for as it is a key support level. If the prices break below this level, it would signal further downside in the near future.

Tezos price analysis on a 1-day price chart: Bears are adamant as XTZ prices remain below $1.89

On the 1-day Tezos price analysis chart, we can see that the coin has been in a downtrend since it reached highs of $3.6 on February 6. The coin found support at $1.5 and resistance at $2.5. However, it has now broken below the $1.5 level and is currently trading at $1.4. This is a key level to watch out for as it is a key support level. If the prices break below this level, it would signal further downside in the near future.

image 26XTZ/USD on a 1-day price chart, Source: TradingView

The RSI indicator is currently at 47.8 and is indicating that the coin is in the bearish zone. The MACD indicator is also in the bearish zone and is indicating further downside in the near future.

The price of Tezos might find some support at $1.4, which is a key level to watch out for as it has been a key support level in the past. However, if the prices break below this level, it would signal further downside in the near future.

Tezos price analysis on a 4-hour chart: XTZ/USD prices are facing resistance around $2.1

On the 4-hour Tezos price analysis chart, we can see that the coin has been in a downtrend since it reached highs of $3.6 on February 6. The coin found support at $1.5 and resistance at $2.5. However, it has now broken below the $1.5 level and is currently trading at $1.4. This is a key level to watch out for as it is a key support level. If the prices break below this level, it would signal further downside in the near future.

image 25

XTZ/USD on a 4-hour price chart, Source: TradingView

On the other hand, if you see that the Bollinger band indicator is above the candlesticks, it implies that the market is currently in a bearish trend. The RSI indicator is currently below 50 and in a negative direction. The MACD signal line is also below the signal line, suggesting that the MACD indicator is also inether has been one of the most popular cryptocurrencies in recent years.

Tezos price conclusion

Tezos price analysis suggests that the market is bearish and that a further drop is anticipated. The bulls had attempted to increase prices, but they were unsuccessful as the market found support at $1.89. Investors are currently on the sidelines, waiting for the market to turn bullish again because buyers are still unsure whether or not prices will continue to decline.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Moses Kimathi

Moses Kimathi

Moses is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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