XTZ/USD Medium-term Trend: Bullish

Distribution territories: $0.55, $0.60, $0.65
Accumulation territories: $0.35, $0.30, $0.25

Last week, XTZ swung northwards against the market valuation of the USD while it saw a high point a bit below $0.45 on December 13. Thereafter, and on the same day, the crypto lost out momentum and got pushed downwards to range around the 50-day SMA’s trend-line until December 16.

On the next day, the crypto began to rise by featuring a bullish candlestick around the conjoined point of both the Bollinger Middle Band and the 50-day SMA. As at today, the crypto-market has surged briefly northwards further beyond the last week’s high mark. The 50-day SMA is a bit underneath the Bollinger Middle Band. The Stochastic Oscillators are still pointing north direction below range 80.

There appears that there are still more rooms for bulls to thrive in the market. A rejection may eventually occur between $0.55 and $0.45 marks, and that could let in bears to take over the driving of the market force.

XTZ/USD market has been predominantly bullish in the short-term rum today. During the trading sessions in the preceding days, the crypto majorly experienced a line of lower highs mostly around the Bollinger Upper Band in sequential order.

As at the present, the crypto is trading around $0.48 price territory. The 50-day SMA is below the Bollinger Middle Band. The Stochastic Oscillators have dipped into the overbought zone. That could raise a warning signal that bull is approaching its peak point where it will be advisable for traders to be wary of longing more positions as at now in order not to be trapped as bears may soon have the market driving advantage.

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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