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XTZ/USD Medium-term Trend: Ranging
- Distribution territories: $0.46, $0.48, $0.5
- Accumulation territories: $0.38, $0.36, $0.34
XTZ/USD market worth has been featuring different amount of price range movements within $0.44 and $0.4 marks since the trading sessions start today. Prior to the January 10 major decline in most of the crypto-markets, the pair was found ranging a bit above the 50-day SMA.
Presently, the crypto has been hovering below the 50-day SMA at around $0.44 price territory. The 50-day SMA is located over the Bollinger Bands with a short space between them. The Stochastic Oscillators have headed northward to touch range 80.
There is an indication that this crypto-market may soon be witnessing a series of lower lows and lower highs below the 50-day SMA. Whilst that assumption plays out, bulls may possibly try to muster a momentum between the accumulation territories stated above.
XTZ/USD Short-term Trend: Bullish
There has been an increase in the market worth of XTZ/USD in the short-term run today. The crypto-market was formerly keeping a seat at around $0.4 mark before the gradual upsurge of the market movement.
Around $0.38 mark has still been the lowest point of the market lately. Price has been trading around the Bollinger Upper Band below $0.44 territory currently. Both the 50-day SMA and the Bollinger Band are found conjoined at around $0.41 mark. The Stochastic Oscillators have closed hairs at range 80 probably to start a consolidation move around it.
In the case of sustaining the current swing uptrend in the short-term run, bull will still need to push the market further northward to test the $0.46 high mark.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Disclaimer
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.