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XTZ/USD Long-term Trend: Bearish
Resistance levels: $1.350, $1.400, $1.450
Support levels: $1.250, $1.200, $1.150
The XTZ/USD pair has been bearish in the month of October 2018. On September 20, the price of Tezos rose to the high of $1.80 but it was resisted the following day. The crypto's price fell to a low of $1.24. Thereafter the digital currency commenced a sideways trend. On October 15, the crypto rose the high of $1.49 and fell again.
The cryptocurrency is facing resistance at the price of$1.45. As the digital currency fell to a low of $1.32, traders should initiate long trades in anticipation of a bullish trend. Nevertheless, the price of Tezos is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.