XTZUSD to see a sideways movement(1D) | Price riding the midlineMarket in last 1 week
XTZUSD saw a downtrend followed by price riding the midline Bollinger band
Price volatility was very high. The market moved ~15.41%, between $2.45 and $2.12
Today’s Trend analysis
XTZUSD expected to see the sideways movement as the price is riding the midline Bollinger band after getting a rejection from the upper band
Price at time of publishing: $2.14
XTZ’s market cap: $1.63 Billion
Oscillator indicators are mostly neutral. RSI at 43
Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull MA indicates a selling opportunity
Volume indicators saw a decrease in volume in recent candles as price decreased
Price expected to see a sideways movement as the price is riding the midline Bollinger band after getting a rejection from the upper band. Most of the Oscillator indicators are neutral. MACD line moving above the signal line with histogram size decreasing in the positive region, suggesting a bullish bias. RSI at 43, below the midline in the neutral region. CCI is around -36, in the neutral region with a pullback from overbought. Another interesting point to notice here is that volume saw a decrease in volume in recent candles as price decreased indicating a weakening selling pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.
DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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