XTZ/USD Medium-term Trend: Ranging

Distribution territories: $.80, $.90, $1
Accumulation territories: $0.40, $0.30, $0.20

The market of XTZ/USD has been maintaining a range moving style around $0.60 and $0.50 territories since the trading session commences this week. All the trading indicators are now trending as well around the said range territories.

The market has been trading against the lower Bollinger Band as the $0.50 has been closely approached. The upper Bollinger Band and the 50-day SMA are sharing the same market price spot. The Stochastic Oscillators have crossed a below the range 75 to point south direction a bit above range 25.

Price action seems to start pressing southwards, and a breakdown of the $0.50 could cause a further fall of the crypto-market to assume a low market point between the $0.40 and the $0.30 territories.

XTZ/USD market had once been moving around a range of $0.65 and $0.55 points a few days back until a couple of hours today. The crypto has been basically featuring lower lows since yesterday’s late trading sessions.

Today, the crypto slightly has pushed southward past the middle Bollinger Band to eventually have a notable breach past the lower range line to test $0.50 mark. The 50-day SMA is a bit below the middle Bollinger Band. The Stochastic Oscillators are consolidating their movements around range 20.

Bears are still seemingly having an upper hand in the XTZ/USD market driving force. Therefore, the market line could soon experience a new low mark if the $0.50 is fiercely eventually broken southward.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

183 +