Tezos (XTZ) Prices Are Failing To Maintaining Stability Above$2.28

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 were climbing with a positive divergence yet it faced volatility.
  • XTZ prices easily acquired the resistance level of $2.16 due to a massive surge.
  • The XTZ/BTC pair performing impressively with the overall gain of 5.31% bringing the level to 0.00031900.

XTZ prices finally achieve the level of $2.28 and now going against it as they were unable to find stability above it. The major resistance $2.35 is providing heavy resistance to the current upsurge of the cryptocurrency as prices acquired heavy negative divergence.

Prices can acquire a heavy bullish momentum that can recover its all previous losses if Tezos could have able to break the resistance level of $2.40

The price level of $2.10 is supported by the price so that they can acquire a positive divergence. Prices need to maintain dominance at their current level to maintain a gradual rise. If XTZ is unable to do so the resistance line of $2.35 will push the down again and make them blow away the level of $2.28.

Currently, the prices are above the level of $2.28. The market capital is at $1,617 ,469,839 with volume traded of $254,775,726 USD and circulating supply of 707,574,068 XTZ.

Tezos (XTZ) Price Analysis

tezos
Source:tradingview

The technical chart indicates that prices were developing a sharp positive trade and bulls but end up facing some negative trade. This is not a major negative divergence but if prices didn’t overcome it they might end up falling hard.

The technical indicators and oscillators are showing an increase in the buying trade as it is turning blue indicating the strong buy of the commodity.

The MACD levels are showing an increase in the selling volume and they might reject the major dominance of buying volume. As bulls are finally parting their ways with the upsurge.

The 24-RSI is trading near the level of 70 in the flat momentum, it had a sharp negative divergence but again it acquired a slight flatted momentum and continuing its trade.

 The 24hr-CCI is trading at the top of the normal region with a slight negative divergence in it.

 Resistance Level: $2.35

 Support Level: $2.25

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