Before we get into this idea, please note that performance is not guaranteed. I recommend doing your own research before entering any trade. Your upvotes & comments are appreciated.
I have shared quite a few bullish ideas for
XTZUSD
over the past two weeks. I failed to account for the influence of large bagholders on this market, and now we are here. My previous analyses have all been voided. I don't know what will happen next. RSI is low, but I don't see direct cause to believe in a reversal upwards.
Therefore; here are some important support and resistance zones. No guarantees the market will respect them, we've seen lines get obliterated before.
First support area between $2.32 & $2.36. Second, strong support is - in my opinion - a larger area, between $2.15 & 2.00.
Finally, should we find momentum back upwards, the $2.54-$2.58 region will likely act as resistance, as well as the bottom of my previous trendline.
Let's see the developments in the coming days.
Good luck.
- Jelle
I have shared quite a few bullish ideas for
XTZUSD
over the past two weeks. I failed to account for the influence of large bagholders on this market, and now we are here. My previous analyses have all been voided. I don't know what will happen next. RSI is low, but I don't see direct cause to believe in a reversal upwards. Therefore; here are some important support and resistance zones. No guarantees the market will respect them, we've seen lines get obliterated before.
First support area between $2.32 & $2.36. Second, strong support is - in my opinion - a larger area, between $2.15 & 2.00.
Finally, should we find momentum back upwards, the $2.54-$2.58 region will likely act as resistance, as well as the bottom of my previous trendline.
Let's see the developments in the coming days.
Good luck.
- Jelle
