XTZ/USD Long-term Trend: Ranging
- Resistance levels: $1.200, $1.300, $1.400
- Support levels: $0.400, $0.300, $0.200
The XTZ/USD pair had been in a sideways trend at the beginning of January 2019. The 12-day EMA and the 26-day EMA had been horizontally flat. On January 10, the bears broke the EMAs to the low of $0.4527 which incidentally is the bearish trend zone. The crypto is likely to fall again because it is in the bearish trend zone. However, if the bearish pressure continues the crypto will find support at the previous low of $0.3780.
Meanwhile, the stochastic indicator is in the oversold region but below the 20% range. This indicates that the price of Tezos is in a strong bearish momentum and a sell signal. The crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone.
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