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TEZOS Pulling back on MACD bearish reversal.
XTZUSD has been one of the better performing crypto coins in recent months but at the moment is on a lower high on the 1D chart and is something to be mindful of.
Levels to watch:
- The 1.8800 Resistance which has been holding since May 2019 and where just recently (December) the price made a double top at.
- The Golden Cross that took place in December.
- The MACD is turning bearish on a sequence similar to September.
Projection:
- The current pull back is forming a Channel Down with last week's high being its lower high. We are expecting a decline towards the 1.0800 level which is Support of the last consolidation phase (November).
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
Levels to watch:
- The 1.8800 Resistance which has been holding since May 2019 and where just recently (December) the price made a double top at.
- The Golden Cross that took place in December.
- The MACD is turning bearish on a sequence similar to September.
Projection:
- The current pull back is forming a Channel Down with last week's high being its lower high. We are expecting a decline towards the 1.0800 level which is Support of the last consolidation phase (November).
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
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