Tezos (XTZ) in a longer-term bullish price channel
Tezos has been well contained inside this bullish price channel since early 2019. The recent corrective dip in crypto is driving XTZ back towards the support trend line of this price channel.
Should Tez dig a little deeper, it may provide a good buying opportunity as we anticipate a bounce to develop soon.
Price appears well supported as more accumulation days are appearing than distribution days. An accumulation day is when you have bigger than typical volume on an up day and most of the big volume days have been accumulation days.
If XTZ does rebound higher off of the daily support trend line, then look for price to reach double digits and low teen's.
Should Tez dig a little deeper, it may provide a good buying opportunity as we anticipate a bounce to develop soon.
Price appears well supported as more accumulation days are appearing than distribution days. An accumulation day is when you have bigger than typical volume on an up day and most of the big volume days have been accumulation days.
If XTZ does rebound higher off of the daily support trend line, then look for price to reach double digits and low teen's.
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