Tezos (XTZ) Rally-Up Collapsed Against The Level Of $1.60

Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • Tezos prices facing heavy resistance from the price level of$ 1.60 After enjoying a significant upsurge, XTZ prices came short against a resistance level.
  • The XTZ/BTC pair performing negatively with the overall loss of -0.93%  bringing the level to 0.00024959.

XTZ  prices suffering heavy resistance from the price level of $1.60. Prices acquired bearish momentum, as Tezos prices struggled to continue its gradual rise against it.

The price level of $1.45 supported the prices so that they can have a positive divergence. XTZ prices broke down many crucial resistance levels like $1.50 and $1.55. Prices were unable to find any support level in this upsurge, as they got exposed to price volatility and bears.

Currently, the prices are at the level of $1.57. The market capital is at $1,108,433,275 USD with volume traded of $89,376,514 USD and circulating supply of 705,020,740 XTZ. With a positive change of  -1.42 in the price.

tezos
Sporce:tradingview

The technical chart indicates that prices are exposed to bears but bulls are not backing off as a serious tussle is going on between them.

The technical indicators and oscillators are showing the increase in the selling volume but the yet there is somewhat positive movement in the chart showing that there is still positive trade occurring for the price of the cryptocurrency.  

The MACD levels are showing an increase in the buying volume and after a trade-in selling volume of a cryptocurrency. This is an indication that bulls are still in the market.

The 24-RSI  is trading near the crucial level of 50, it had a sharp positive divergence but again it acquired the downward momentum and can hit the level of 50.

The 24hr-CCI went to the normal region after suffering the overselling region. There is a decrease in the demand of the cryptocurrency.

Resistance Level: $1.60
Support Level: $1.45

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