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#Tezos Drops 12% From March Highs, XTZ Finds Support At $1.06Past Performance of Tezos Tezos remains under pressure despite bullish network enhancement. On March 30, bears quickly wiped out gains of March 29, swinging price action back to bearish territory. As it is, XTZ is down 12 percent from March highs and 24% from February highs. Based on the XTZ candlestick arrangement, the coin has support at $1.06 but is within a bullish trend following gains from mid-March. #Tezos Technical Analysis Even though Tezos is edging lower at spot rates, the coin is bullish, considering that the better part of Q1 2023 was a net positive for holders. Specifically, XTZ has support at around the 61.8% Fibonacci retracement of the Q1 2023 trade range. The immediate reaction points stand at $1.06 and $0.95. Losses at $1.06 may force even more losses. However, recovery from spot rates, preferably above $1.20, could be the building blocks for the leg up toward March high at $1.26 and later $1.50 if buyers press on. What to Expect From #XTZ? Tezos is bullish from a top-down preview. However, the coin has been oscillating from a wide trade range since early February. The first resistance level lies at March 2023 highs. If buyers reject bears, any breakout above this lie may see XTZ add to their gains in a buy trend continuation formation. Resistance level to watch out for: $1.20 Support level to watch out for: $1.06 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Tezos drops 63% in 6 Months, XTZ Bearish Below $0.83Past Performance of Tezos In the second half of 2022, Tezos lost 63 percent, further heaping pressure on buyers. At spot rates, XTZ is not yet out of the woods, just not yet. Looking at the performance in the daily chart, prices are bouncing from the middle BB, a dynamic resistance line. This development is generally bearish. As it is, buyers must clear $0.83, surging above the liquidation line with expanding trading volumes. #Tezos Technical Analysis Sellers are in a commanding position. Based on the events in the daily chart, every bounce higher could be a dead-cat bounce, a bull trap. Therefore, in light of these events, traders can unload XTZ on every high below the middle BB and $0.83 on the higher end. The immediate target will be at $0.70, the December 2022 low. This trend will only change once buyers drive prices above the 20-day moving average and reverse the losses of December 19. As prices pump, there should be a marked expansion in participation levels to mark interest from stakeholders. What to Expect from #XTZ? Traders are cautious about loading on dips since the primary trend is bearish. Although XTZ is up roughly seven percent from December lows, there needs to be more work. Traders can look to unload in the short term, expecting more dumps. Resistance level to watch out for: $0.83 Support level to watch out for: $0.70 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
#Tezos Drops to Multi-Year Support Line, resistance $0.911Past Performance of Tezos It has been a tough year for Tezos, considering how price action has been panning out. As an illustration, XTZ prices are down 91 percent from peaks and presently trading at the October 2019 support. Any loss from the spot rate could see the coin tumble to register multi-year lows, cementing bears' grip on the current trend. #Tezos Technical Analysis XTZ bears are squarely in control from a top-down analysis. Even though there are flashes of strength, the coin is tethering close to registering new multi-year lows. Oscillating at October 2019 support at $0.76, Tezos bears are in control. However, in the weekly chart, there are hints of rejection of lower prices. The result is a long lower wick, pointing to strength. In the daily chart, there is a bullish bar following the gains of December 20. Still, buyers are yet to reverse the losses of December 19. XTZ is within a bear breakout formation, with December 16 and 19 defining the current trajectory. Aggressive traders can unload on every attempt higher as long as prices are below $0.911. The immediate target lies at $0.75. This preview will be null if XTZ rallies above $0.911 and, ideally, $1.04. What to Expect from #XTZ? Tezos bear bars band along the lower BB, indicating strong selling pressure. With sellers in charge from a volume analysis perspective, traders can liquidate as long as prices are inside the December 16 and 19 bear bars. Resistance level to watch out for: $0.911 Support level to watch out for: $0.75 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
#Tezos down 33% in 3 weeks, XTZ under PressurePast Performance of Tezos Tezos remains under immense sell pressure, looking at how price action is on the daily chart. Despite the broad market recovery, XTZ is edging lower with support at around $0.90. There are lower lows relative to the lower BB, but sellers remain dominant. #Tezos Technical Analysis As an illustration, XTZ is down 33 percent from November peaks and 52 percent lower from Q3 2022 high. Accordingly, sellers are in a commanding position. Therefore, for Tezos bulls to shake off adamant sellers, there must be a decisive close above $1.05 in the short term and $1.20, reversing November 9 losses in the medium term. As long as XTZ prices are below $1.05, sellers can unload on dips, targeting $0.90 and $0.80—or September 2019 range. What to Expect of #XTZ? Down roughly 90 percent from the 2021 high, Tezos sellers have unwound all gains of 2021 and 2020. Prices are now at 2019 ranges with a bleak outlook considering the relentless wave of lower lows. Resistance level to watch out for: $1.05 Support level to watch out for: $0.90 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Tezos Dumps 35% in 3 Months, Could Slide to H1 Lows of $1.20Past Performance of Tezos Tezos is down 35 percent from August 2022 highs and remains under pressure. The daily chart shows XTZ prices are printing lower lows, capped within the middle BB, and retesting $1.33. Technically, price action favors sellers in the short term. There could be more liquidation if bears force prices below July 2022 lows. #Tezos Technical Analysis Tezos hasn't been spared the uncertainty and drawdown in the broader crypto and financial markets. Overall, the coin is within a bearish trend, below the middle BB, a dynamic resistance level, and $1.46 is a critical liquidation level. XTZ might recover, especially if buyers soak in the deluge of selling pressure. The October 13 bull bar defines the short-term trend. Bears will be in control until there is a confirmation above the middle BB and $1.46. A close above $1.46 may see XTZ rise to September 2022 highs at $1.70. Losses below $1.33 may force XTZ to 2022 lows at $1.20. What to Expect from #XTZ? Sellers have the upper hand, but the tide could change if there are above October 13 highs and the middle BB. Preferably, a spike in trading volumes, exceeding this week's average, might reinvigorate buyers, pushing them to new October highs. Resistance level to watch out for: $1.46 Support level to watch out for: $1.33 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
Tezos Retracts, Prices Remains in a Rising Channel above $1.67Past Performance of Tezos There are flashes of strength in Tezos' price action. However, despite the gains in the past trading week, buyers are struggling to shake off determined sellers. Currently, XTZ prices are within a rising channel with immediate support at $1.67 with caps at $1.85. The coin is inside the July 30 bull bar, a positive development for traders. #Tezos Technical Analysis Tezos is bullish and traders may load the dips above $1.67, based on the candlestick arrangement in the daily chart. Since prices are within the July 30 bull bar with support at $1.67, every low may offer an opportunity to double down with targets at last week's highs at $1.85 as prices trend inside the rising channel. Further gains with rising volumes above the previous week's highs may trigger more demand, lifting XTZ towards June 2022 highs of $2.33. Conversely, if bears flow back, forcing prices below $1.67 and May 2022 lows, XTZ could crash to $1.48 and even $1.20, or 2022 lows, in the short to medium term in a bear continuation formation. What to Expect from #XTZ? After double-digit losses from 2021 peaks, prices are recovering. The crypto market-wide recovery could prop up XTZ prices in the medium term, buoying bulls targeting June 2022 highs. These gains are, however, subject to how strongly prices break out from the rising channel. Resistance level to watch out for: $1.85 Support level to watch out for: $1.67 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Tezos Resistance at $1.54, XTZ Prices in a Bear Flag FormationPast Performance of Tezos Tezos prices are trailing the USDT after a relief rally. At spot rates, the coin remains within a bear breakout formation, sliding six percent in the last trading week. In the immediate term, the primary support and resistance levels lie at $1.22 and $1.54, respectively. #Tezos Technical Analysis From the daily chart, sellers are in a commanding position. XTZ prices are tracking lower in a descending channel within a bear flag. With sellers unwinding gains, traders can wait to trade the breakout in either direction. Preferably, the surge in either direction can be with rising trading volumes. A close below $1.22 will nullify the bullish outlook, confirming sellers of June 13. In that case, XTZ may slide to $1.20 and even $1.10 in the medium term. Conversely, gains above $1.54 may see Tezos bulls drive prices towards May 2022 lows at $1.64. What to Expect from #XTZ? Buyers are confident, but bulls are struggling to tame the wave of recent liquidation. While recent gains may slow the sell-off, a break above $1.54 is required to restore traders’ confidence. Resistance level to watch out for: $1.54 Support level to watch out for: $1.22 Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer