• On July 16, the downward trend was corrected at the $0.85000 price level.
• The $0.0.85000 support level was holding as the bulls made an upward move above the EMAs.

XTZ/USD Medium-term Trend: Bearish

• Resistance Levels: $1.20, $1.25 ¸ $1.30
• Support levels: $1.15, $1.10, $1.05

Yesterday, July 23, the price of Tezos was in a bearish trend after the bulls broke above the 12-day EMA and the 26-day EMA. On May 19, the XTZ pair reached a high of $1.834 price level. On May 20, the coin had been on a downward correction. In the first downward trend, the bears break below the EMAs.

The coin continues its fall as the crypto's price is below the EMAs. On July 16, the downward trend was corrected at the $0.85000 price level. The $0.0.85000 support level was holding as the bulls made an upward move above the EMAs.

The price of Tezos is not yet sustained above the EMAs to allow the resumption of the bullish trend. Meanwhile, the price of Tezos has reached the oversold region of the daily stochastic but above 40% range. This indicates that price is in a bullish momentum and a buy signal.

XTZ/USD Short-term Trend: Ranging

On the 1-hour chart, the XTZ price is in a sideways trend. The 12-day EMA and 26-day EMA are trending horizontally. The crypto’s price is fluctuating below and above the $1.0344 price level. Meanwhile, the price of Tezos has reached the overbought region of the daily stochastic but above 60% range. This indicates that price is in a bullish momentum and a buy 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.