Consolidation in the XTZ market lasts exactly one month. The month after the XTZ price fell by 56%.
The main achievement of buyers for all this time is the test of critical level $2.4 . However, this local upward trend has deep corrections and is not at all the slope angle that could inspire for reversal.
If we look at the situation locally, the critical point...
Price action of XTZ has found a very long term support on weekly chart. And this time priceline is again moving down towards this support.
On daily chart the priceline is moving within a down channel. The moon phases indicator is showing new dark moon appeared above support of channel and new full moon is at the resistance....
❇️what is tezos?
Like Bitcoin and Ethereum , Tezos is a decentralized ledger that makes use of blockchain technology. Like Ethereum , Tezos is designed to make use of smart contracts. The term “Tezos” is ancient Greek for “smart-contract,” according to the developers. However, Tezos goes beyond previous offerings.
Tezos is a blockchain platform that supports...
💎Technical Analysis Summary💎
-Tezos is trading inside a descending channel
-The pattern is Bullish if breakout to the upside
-The major support area is at 1600 range
-That zone is tested support twice and saw an upward move
-If XTZ will continue its downtrend, it will likely test this region
-I recommend buying the breakout of the channel to...
Tezos just broke out to the downside, I was planning on shorting it earlier but I preferred to wait for it.
Now the idea is to catch a pullback retesting that bearish pattern and follow the downtrend!
Current Price= 2.169
Sell Entry= 2.192 - 2.242
Take Profit= 2.132 | 2.080 | 2.008
Stop Loss= 2.302
Risk/Reward= 1:1 | 1:1.61 | 1:2.46
Expected Profit= +15.32% |...
If anyone looking long term profits XTZ is perfect we can see lower line bollinger band touch and rebouncing targets for this 4.5 for short term and 6 is for medium term and long term who is looking for huge profits in bull market target is above 12 we can hold and relax for spot traders
The 2$ support zone is really good for us to believe in.
I think it will make a big up move in the late of this year. The expected targets are : 2.5$ in October and 3.5$ in November.
We will close this trade if 2$ zone broken.
On the XTZUSD chart, we are hitting this MAJOR trendline. I imagine this will hold as support and we will move higher from here. You can also see that RSI is extremely oversold which would also indicate a move off this $2 area.
If we coincide this with the XTZBTC cross, we can see that RSI is also very oversold here and hitting this .618 fib line. this should...
Another one to stalk, looking for confluence with the levels for a small trade.
- Nice macro pullback;
- Bullish on the daily indicators;
- Possibly a bottom breakout formation, like BNT (previous post);
- Opportunity to trade it as a breakout option.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
Make sure you can get support at point 2.2080.
We need to see if it can rise above the MS-Signal indicator.
It remains to be seen if it can rise above the...
XTZ closing in on a massive 2 month consolidation after making new ATHs. Looking back, we have seen this pattern repeatedly, and will be looking for another big upside from these levels to new ATH once again.