Crypto Technicals: XTZ/USD Technical Analysis Summary

Exchange - Kraken

Major Support Levels:
S1: 0.8871 (50H SMA)
S2: 0.82 (Major Trendline)
S3: 0.6325 (Channel base)

Major Resistance Levels:
R1: 0.9506 (5-DMA)
R2: 1.0135 (21-EMA)
R3: 1.0261 (200H SMA)

​Chart Analysis:

​XTZ/USD chart - Trading View

Summary: Tezos (XTZ) has bounced off major trendline support (currently at 0.82). Weakness only on break below. A potential 'Morning Star' pattern on the daily charts raises scope for upside. Price action is currently struggling at 55H-EMA (0.9037). Major trend is bearish, but a decisive break above 55H-EMA will see further upside.

Guidance: Stay long on breakout at 55H EMA, Stop Loss: 0.82, TP: 0.95/ 1.0250

TokenPost | [email protected]