XTZ/USD Medium-term Trend: Ranging
Distribution territories: $1.50, $1.55, $1.60
Accumulation territories: $1.25, $1.20, $1.15
The XTZ/USD market price valuation has been witnessing more of its movement by basically featuring lower highs about two days ago. It has also been noticed that the upper Bollinger Band has been visibly stretched northward above $1.40 price territory as price has also been briefly moved past above it.
Currently, the market price has been fluctuating between $1.40 and $1.30 price territories that also serve as the range-bound zone. The 50-day SMA is located under the Bollinger Band. The Stochastic Oscillators, after touching range 80, have crossed to point south. This signifies that a bearish market could feature as there may be lower lows or a strong bearish market trend in the XTZ/USD valuation soon.
XTZ/USD Short-term Trend: Bearish
Tezos had a greater advantage in the market over the U.S. dollar market price worth, yesterday. Some of the price movements occurred over both the middle Bollinger Band and the 50-day SMA’s trend-line.
Today, the market price began to drop while it made a pull-back against $1.40 and the middle Bollinger Band. The drop was extended towards $1.34 market price territory. Price has now been traded along with lower Bollinger Band. The Stochastic Oscillators have slightly dipped into the oversold region. This depicts that the bearish market movement may soon come to an end but, not yet completely over. Traders are advised to look out for a strong bearish reversal against the $1.34 market price point to enter a long position.
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