Broker of the Week Oanda - Read Full Review

Free Top Brokers Comparison Service

HELP ME CHOOSE START QUIZ

XTZ is on track to $5 despite stiff resistance ahead

[ad_1]

  • Tezos price seems to be contained inside an ascending parallel channel on the 12-hour chart.
  • XTZ has been trading inside an uptrend since December 23, 2020, and aims for higher highs.

It looks like Tezos is trading under a significant resistance trendline which stops the digital asset from rising towards $5. Additionally, XTZ faces a strong short-term selling pressure according to a crucial indicator.

XTZ price might need to see a pullback before a run to $5

On the 30-minutes chart, the TD Sequential indicator presents a sell signal having continuation. On the 1-hour and 6-hour charts, a green eight candle can be seen and this is usually followed by a sell signal. 

xtz price

XTZ sell signals

Validation of all sell signals could quickly push Tezos price down to $2.6, which is a support level on the 12-hour chart. In this chart, Tezos has established an ascending parallel channel since December 23, 2020.

xtz price

XTZ/USD 12-hour chart

However, Tezos price is closer to a breakout currently as it trades at $3.10 and the resistance is located at $3.3. Cracking this barrier would drive Tezos price towards $4.4 in the long-term before a potential run to $5.

[ad_2]

Source link

We will be happy to hear your thoughts

      Leave a reply

      Trading foreign exchange on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

      Advertiser Disclosure: Brokerspilot.com helps investors across the globe by spending over hours each month testing and researching online brokers.

      How do we make money? Our partners compensate us through paid advertising.

      While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site.

      Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

      Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective.

      While Brokerspilot.com has some data verified by industry participants, it can vary from time to time.

      Operating as an online business, this site may be compensated through third-party advertisers.

      Our receipt of such compensation shall not be construed as an endorsement or recommendation by Brokerspilot.com, nor shall it bias our reviews, analysis, and opinions.

      en_USEnglish
      Best Forex Brokers Reviews
      Logo
      Reset Password
      Compare items
      • Total (0)
      Compare
      0