XTZ (Tezos) started trading at $4.86 on February 19, 2021. As of February 25, 2021, XTZ closed at $3.34. The XTZ price has fallen by approximately 45.51% in the past week. In the last 24 hours, the XTZ price has been trading within the price range of $3.17-$3.84. https://ift.tt/2ZPTt03 Technical Indications for the Day-Ahead and Tomorrow Currently, XTZ is trading at $3.43. The price has risen from the opening price of $3.34. The price has started rising above the SMA line. Hence, the price may go up. Presently, the RSI indicator is at 61%. It faced rejection at 70% and dipped for a while. However, the RSI faced rejection at 53% and started rising again. It is moving towards the ‘overbought’ region. Thus, buying pressures are high. The price is likely to rise further. The MACD and signal lines are positive too. This implies that the overall market momentum is positive. The ‘bearish crossover’ by the MACD line over the signal line indicates a temporary price pullback. However, the OBC indicator has fallen in the past 24 hours. Thus, buying volumes are lower than selling volumes. Hence, the price is likely to dip till buying activity picks up. The ADX indicator has fallen too. Thus, the bearish market momentum is still strong. Hence, we can expect a further price drop. Price Trends in XTZ Currently, the price is below the Fibonacci pivot point of $3.45. It may fall below the first Fibonacci pivot support level of $3.19 in some time, as the bears are stronger. The price has already tested the 76.4% and 61.8% FIB retracement levels of $3.68 and $3.58 respectively. It is now inching closer to the 38.2% FIB retracement level of $3.42. It may fall below this level soon. By the end of the day, it may fall below the 23.6% FIB retracement level of $3.33 as well. If the closing price is below the 23.6% FIB extension level of $3.01, it implies that the bearish trend is strong. Thus, the price downtrend is likely to continue tomorrow as well.
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