Looking at our trend timeframe we see XTZ is currently testing our trendline, stochastic rsi showing momentum remains in bottomed out at this level. In the month of February we saw the price go as high as $3.90 and as low as $1.64, where is March going to take us. A daily close below our $2.65 support is a good sign we will continue towards the downside. Rejection from this level and expect XTZ to make a run towards $3.60.
Shifting over to our pattern timeframe we see XTZ remains in a minor downtrend since making its new high at $3.90, stochastic rsi showing momentum remains in favor of the bears. 4hour resistance and support are drawn with the horizontal lines. A 4hour close $2.60 is a good sign we will hold here and continue to the upside, however, if we close below $2.60 expect XTZ to sell off towards our $2.25 support. The price is currently testing our dynamic support which looks like it has been previously broken, however, the next couple of 4hour candles will let us know.
