Tezos (XTZ) Price Analysis: XTZ Remain In Bear Grip

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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 are falling down and facing heavy volatility due to the level of $3.30.
  • XTZ prices lose the support level of $2.90 due to a massive plummet.
  • The XTZ/BTC pair is not performing well as there is a major loss of -6.05%  bringing the level to 0.00032081.

XTZ prices lose the support level of $2.90 and now they are trying to achieve stability above the level of $2.80. The resistance line of $2.80 is providing heavy support.

The current upsurge of the XTZ Price is faded and cryptocurrency has acquired a heavy negative divergence.

Prices are moving with heavy bearish momentum and they did recover it due to its current support level.

The price level of $2.78 can be the supporting factor that the price needed so far as they acquired a positive divergence. Prices need to maintain dominance at their current level in order to continue their gradual rise.

Currently, the prices are above the level of $2.80. The market capital is at $2,002,560,522 USD with volume traded of $425,683,541 USD and circulating supply of 708,824,286 XTZ.

Tezos Price Analysis

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tezos 1
Source:tradingview

The technical chart indicates that prices are developing a sharp negative trade. There is a major negative divergence emerged in the prices when they are overcoming the price level of

The tezos price analysis 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 a massive decrease in the buying volume and they will be collapsed against the major dominance of selling volume.

The 24-RSI  is trading near the level of 50 due to the heavy negative momentum, it had a sharp negative divergence but again it acquired a slight flat momentum and continuing its trade in it above the level of 50

The 24hr-CCI  is trading in the normal after falling from the heights of the over buying region with a heavy negative divergence in it.

Resistance Level: $3.00

Support Level: $2.75

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