Tezos is a blockchain network that claims to be more secure, agile, and long-lasting. It is an open-source protocol for assets and applications managed by a community of miners, developers, and researchers. XTZ is its governance token. Past Performance On March 11, 2021, the opening price of XTZ was $4.16. As of March 17, 2021, the closing price of XTZ is $4.41. Thus, the XTZ price has soared by approximately 6%, in the past week. In the past 24 hours, XTZ has traded between $3.84-$4.45. https://ift.tt/3vAtzw6 Technicals for the Day-Ahead and Tomorrow Currently, XTZ is trading at $4.28. The price has fallen from the opening price of $4.41. Thus, the market is downtick. The MACD and signal lines are negative. The MACD line has crossed over the signal line from above. Thus, the market momentum is bearish. The price drop is likely to continue till bulls take over the market. Currently, the RSI indicator is at 46%. The RSI was near the 30% mark an hour back. Thereafter, it has rallied to the current level. Selling pressures are on the higher side. Thus, we can expect the price to downswing further. The OBV indicator has risen sharply over the past 24 hours. Thus, buying volumes are high. High demand for XTZ will exert upward pressure on its price. The price will go up but with intermittent price pullbacks as the other oscillators have shown a bearish momentum. XTZ Price Analysis At present, the XTZ price is just above the Fibonacci pivot point of $4.23. It may fall up to the first support level of $4. Thereafter, depending on whether the bulls or the bears take over the market, the price may rise or fall, respectively. The price has tested and fallen below the 23.6% FIB retracement level of $4.31. It is soon likely to test and fall below the 38.2% FIB retracement level of $4.22. We can be assured of a bullish trend if the price retests and breaks out of these levels by day close.
The post XTZ Waits for Price Retest of $4.22 to Confirm a Rise – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
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