Tezos Price Analysis: XTZ Token Is Getting Rejected at $3.0 Mark

Source: XTZ/USD on TradingView

The daily technical chart of XTZ token represents the price gains strength. According to Pivot points (FIB), XTZ’s crucial support level is $2.32. Conversely, if it moves up, the necessary resistance level to observe is at $3.10. Thus, while the intraday chart forms a Bullish Harami candlestick pattern, predicting prices may soon reverse to the upside with average dependability.

The moving average (MA) composed of 50,100,200-MA can be a reliable support for currency price changes. However, investors can observe that the price moves below the orange line, ensuring a downward trend until the price stays below the MA-200.

Volume of (64K) is beneath the MA of 20-days (222.540K). buying pressure is average in XTZ, making its price remain in a constant zone. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The RSI indicator gave a (bullish) signal with 48.13, projecting a neutral signal in the coin. Investors may observe an inclining slope from 41 to 48. It may surge in future trading sessions.

Tezos (XTZ) Token Price Requires Massive Strength

The XTZ token price is $2.93, a gain of 2.4% in 24-hours, and negative by 4.0% in a week. In addition, due to low trading volume, price movements are getting rejected by [pivot points. However, the RSI indicator shows neutral signs. Therefore, for an upmove, traders should increase buying pressure. Technically, the price gains some minor strength and trades below the $3.0 mark. Therefore, as with general market sentiment, the trend remains bullish.

Resistance: $3.10 

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