XTZUSD to see a slight downtrend(1D) | Midline rejection

Market in last 1 week

• XTZUSD saw an uptrend after getting lower band support reaching midline
  
• Price volatility was very high. The market moved ~23.41%, between $2.36 and $1.91
  

Today’s Trend analysis

• XTZUSD expected to see a slight downtrend as the price after trading between midline and lower band got midline rejection
  
• Price at time of publishing: $2.27
  
• XTZ’s market cap: $1.71 Billion
  
• Oscillator indicators are mostly neutral. RSI at 42
  
• Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull MA indicates a buying opportunity
  
• Volume indicators saw a decrease in volume as price increased followed by increase in volume with price increase
  

Price expected to see a slight downtrend as the price after trading between midline and lower band got midline rejection. Most of the Oscillator indicators are neutral. MACD line moving above the signal line with histogram size increasing in the positive region, suggesting a bullish bias. RSI at 42, below the midline in the neutral region. CCI is around -24, in the neutral region with an upmove. Another interesting point to notice here is that volume saw a decrease in volume as price increased followed by increase in volume with price increase indicating a shift to buyers.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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- Mudrex