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.

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.

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