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Crypto Technicals: XTZ/USD struggles at 200-DMA resistance (1.1209), break above to see further gains

Fri, 20 Sep 2019, 06:07 am UTC

XTZ/USD chart - Trading View

Exchange - Kraken

Support: 1.0603 (21-EMA); Resistance: 1.1209 (200-DMA)

Technical Analysis: Bias neutral to slightly bullish

Tezos has been struggling to break past 200-DMA resistance from the past 3 sessions.

XTZ/USD has been consolidating above 21-EMA (1.0602). Retrace below will negate near-term bullish bias.

Moving averages bias has shifted to bullish on the 4-hourly charts and the pair has reclaimed break above 4H 200 SMA.

Indicators are biased higher. Stochs and RSI point North and RSI is above 50 mark, supporting upside.

MACD is showing a bullish crossover on signal line, but ADX fails to support.

Decisive breakout above 200-DMA could change dynamics for the pair, raising scope for upside resumption.

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