Tezos Price Analysis: XTZ Coin 16% Down in a Week, Expecting a Downside This Week

Source: XTZ/USD on TradingView

The daily technical chart of XTZ token represents the price losing strength and struggling to sustain above $2.32 support. According to Pivot points (FIB), XTZ’s crucial support level is $1.85. Conversely, if it moves up, the necessary resistance level to observe is at $3.10. Thus, while the intraday chart forms a Morning star candlestick pattern, predicting prices may soon reverse to the upside with average dependability.

The exponential moving average (EMA) included 50,100,200-EMA 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 EMA-200.

Volume of (152.04K) is beneath the MA of 20-days (211.479K). selling pressure is high in XTZ, making its price remain in a negative zone. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The CCI indicator gave a (bearish) signal with -152, projecting a sell signal in the coin. Investors may observe an inclining slope from -192 to -152. It may surge in future trading sessions.

Tezos (XTZ) Coin Price Chart Shows Oscillators Are in Oversold Region

The XTZ token price is $2.40, a loss of 3.0% in 24-hours, and negative by 16.0% in a week. In addition, due to high selling volume, price movement is expecting a downside. However, the CCI indicator shows bearish signs. Therefore price levels are underneath multiple EMA’s. Technically, the price loses strength and trades below the $2.50 mark. Therefore, as with general market sentiment, the trend remains bearish.

Resistance: $3.10 

Support: $1.85

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