XTZ/USD Long-term Trend: Ranging Resistance levels: $1.2000, $1.3000, $1.4000 Support levels: $0.4000, $0.3000, $0.2000

The XTZ/USD pair had been in the bearish trend zone since January 10. The bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $0.4556. The crypto’s price had been trading in a range-bound movement below the EMAs. The small body candlesticks had not been able to break the EMAs to the bullish trend zone. These candlesticks are called Doji and spinning tops which described the indecision of buyers and sellers at the current market price. These candlesticks are being resisted by the 12-day EMA.

Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The crypto’s price is likely to fall as it faces resistance at the 12-day EMA. The stochastic is out of the oversold region but above the 20% range which indicates that the VET price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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