2019-3-28 12:04 |
Long-Term Outlook Tezos Weekly Chart – Source Tradingview.com
A look at the Weekly chart for XTZ shows that the price made a temporary bottom near $0.4, close to where price opened in July 2018.
Since then, it initiated an upward move which took it above the 10 and 21-period moving averages, which are very close to making a bullish cross.
The MACD is moving upward with strength but is not positive yet.
The RSI is at 46, indicating neither overbought nor oversold conditions.
The closest resistance area is found near $1.
Medium-Term Outlook Tezos 3-day Chart – Source Tradingview.comA look at the 3-day chart gives a similar outlook to the weekly one.
The price is trading between the major support and resistance areas.
Furthermore, the 10 and 21-period moving averages have made a bullish cross and are moving upward.
The MACD is into positive territory.
The RSI is into overbought territory, but there is no divergence developing yet.
Tezos Daily Chart – Source Tradingview.comA look at the Daily chart gives us our first trading structure.
We can see that the price has been following an ascending support line for the past 49 days. The increase intensified on March 18.
The price is above all the moving averages except the 200-period one, which rejected the price on March 19.
The RSI is into overbought territory, but there is no divergence yet.
The MACD is positive but is losing strength.
Short-Term Outlook Tezos 2-hour Chart – Source Tradingview.comA look at the two-hour chart shows that the breakdown was preceded by bearish divergence in the RSI.
Since then, the price has gradually rebounded but has not reached the same level.
Conclusions: There is support near $0.4. There is resistance near $1. The price is following an ascending support line. The recent drop was preceded by bearish divergence in the RSI. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.Tezos [XTZ] Price Analysis: Has Tezos Began a New Long-Term Uptrend? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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