Tezos’ fall has presented itself in a fan formation and looks to be securely in the top half at the moment.
Considering the high stochastic RSI value and recent bounce off of the top resistance of the fan, it is likely that XTZ is in for a further spill, possibly for another test of the midline support in the neighborhood of $0.35 to $0.37.
The short-term trade options on XTZ are slim at the moment when compared to the risk involved. CLICK TO TWEET
If Bitcoin takes another nosedive, XTZ could end up surrendering the top half of the fan and slip back to test the lower channel support in the range of $0.20 to $0.25.
Those looking to accumulate for the long-term may want to set limit buys and be vigilant in monitoring the price. Tezos has been sinking to levels that it has never seen before, making it one hundred times harder to judge where the bottom could possibly be.
Read the entire analysis @ BeInCrypto: beincrypto.com/tezos...hrinking-market-cap/
Considering the high stochastic RSI value and recent bounce off of the top resistance of the fan, it is likely that XTZ is in for a further spill, possibly for another test of the midline support in the neighborhood of $0.35 to $0.37.
The short-term trade options on XTZ are slim at the moment when compared to the risk involved. CLICK TO TWEET
If Bitcoin takes another nosedive, XTZ could end up surrendering the top half of the fan and slip back to test the lower channel support in the range of $0.20 to $0.25.
Those looking to accumulate for the long-term may want to set limit buys and be vigilant in monitoring the price. Tezos has been sinking to levels that it has never seen before, making it one hundred times harder to judge where the bottom could possibly be.
Read the entire analysis @ BeInCrypto: beincrypto.com/tezos...hrinking-market-cap/
Truly Unbiased Cryptocurrency News beincrypto.com