Tezos Price Analysis: XTZ/USD bulls remain control as price trends in an upward channel.
|- XTZ/USD bulls have remained in control for the fifth straight day.
- William‘s %R has dipped back inside the overbought zone.
XTZ/USD daily chart
XTZ/USD went up from $2.90 to $2.97 as the bulls remained in charge for the four consecutive days. The price is trending in an upward channel formation and looks to break past the $3–level.
William‘s %R has dipped back inside the overbought zone, which shows that the price is overvalued and may soon face bearish correction. The Elliott Oscillator has had 11 straight green sessions.
Support and Resistance
The bulls will want to conquer the $3.044 resistance line to continue the upward momentum. On the downside, healthy support lies at $2.90, $2.78, $2.67 (SMA 50) and $2.50 (SMA 20).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.