Ok, we see a clear Head & Shoulders chart pattern here, which was triggered recently. But, Tezos is trading inside the support zone, which is the best place for a reaction here. Despite of this, XTZ is in a bear market, with descending tops and bottoms, trading under the 21 (which is pointing downwards), and the of the black candles are quite high.
Now, the weekly chart:
There’s nothing surprising here. Tezos found a support at its 21 , and we will have to wait to see if it will really support the price.
If you want my opinion, I’m very skeptical about anything going on the crypto market right now, and I only see good stuff in the and stock market. Either way, I’m not sure if this is strong enough to get XTZ out of this consolidation – only time will tell.
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