XTZ/USD Medium-term Trend: Bearish
Distribution territories: $0.50, $0.60, $0.70
Accumulation territories: $0.30, $0.20, $0.10
Around last week, the XTZ/USD market was seen moving in range territories of between $0.60 and $0.50. But then, the range was eventually breached southwards on November 30.
Thereafter, the crypto continued to experience slight downward movements as it featured lower lows than lower highs below the middle Bollinger Band. This week, there has been a series of short downs in the XTX/USD market valuation around the $050 mark. On December 3, the market got weakened below the said mark to commence its downward price movement which has led the market to average $0.35 low mark today.
All the trading indicators are slightly bent southwards as both the upper Bollinger Band and the 50-day SMA are found being conjoined a bit below the $0.50 market territory. The Stochastic Oscillators are consolidating within and around the oversold zone below range 25.
Bears are majorly prevailing over the XTZ/USD market stand currently and it could still push southwards further to see part of the accumulation territories stated above.
XTZ/USD Short-term Trend: Bearish
XTZ/USD market valuation has been visibly dropping around the sell signal line of the 50-day SMA since the beginning of this week’s trading sessions in the short-term run. About two days, the crypto averaged northwards below the $0.50 price territory to mark its current high point.
Shortly, the crypto began to fall while the US dollar over-weighted it. Today, about a few hours ago the crypto tried to spike northward suddenly past the 50-day SMA and the upper Bollinger Band to touch around $0.45 mark on the chart. Not too long it lost out momentum as it has been reversed southward to now start pushing against the lower Bollinger Band. The Stochastic Oscillators are consolidating within the oversold zone and around range 25 presently.
Investors may now consider buying into this cryptocurrency.
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