Tezos(XTZ) Price Analysis: Plunge In the Prices of XTZ

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Major dominance of bears in the market. Gradual downfall still continues, cryptocurrencies’ price level struggling to maintain a static level above the normal.
  • XTZ/BTC pair showing negative sign with loss of -0.76% bringing the level to 0.00030263.

tezos

In the 7 day-chart, we can clearly see that XTZ prices are having a tough time in the bullish approach. The prices tried their best to climb up but the resistance level of $1.85 but failed on and on. Later it went below the normal level due to the global market factors.

The support level of 1.70 prevent price fall many times but the heavy bearish presence in that market broke this level down alongside leading the prices to venerable state below the normal.

Today crypto market falls along with the global market which led XTZ’s current market capital to $1,134,033,363 USD with volume traded of $208,076,180 USD and circulative supply of 709,655,246 XTZ.

Tezos TRX Technical Analysis

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There is a continuous downfall in the prices of the altcoin as bears took full control of it, leading it to the normal limit. It struggled a lot to maintain its presence in on the normal.

The technical indicators and oscillators are showing heavy selling volume due to the market condition. As crypto investors are more focused on liquefying there assets. This could serve hard at the prices of altcoin as current investors are seeking an exit and new ones are afraid to make there move in the market.

The MACD levels showing heavy selling volume, there was a complete dominances of bears. TRX levels struggled a lot to acquire a bullish zone but call off their day in bearish approach.

The 24hr-RSI went to the oversold region twice. It took a sharp negative divergence towards the oversold region and did made a double wedge pattern there and climb back to normal day but ended in bearish approach.

The 24hr-CCI touched its lowest limit possible in the oversold region with a heavy selling volume. It struggled a lot to reach the normal  level but somehow it manages to do it

Resistance level: 1.65.

Support level: 1.60.

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