XTZ/USD Long-term Trend: Bearish

Resistance levels: $1.350, $1.400, $1.450
Support levels: $1.200, $1.150, $1.100

The XTZ/USD pair is currently in a bearish trend. In the first two weeks of November, the crypto's price has been in a sideways trend. On November 1, the digital currency had an opening balance of $ 1.300 but has depreciated to the low of $0.64. The price depreciation was as a result of the bearish pressure. On November 14, the price had been resisted by the 12-day EMA which resulted in a downward trend.

The crypto's price has reached the oversold region of the market suggesting bulls to take control of the market. Traders are to look out for buy setups pending the appearance of bull market. Nevertheless, the price of Tezos is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell 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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