12.6 C
New York

Bearish Market Conditions, XTZ Price Consolidates below $2.50


The XTZ prices are still in a bearish trend and are consolidating at below $2.50 level over the past week. Tezos price analysis indicates that support for XTZ prices around $1.70, but there is resistance around the $2 mark. 

$1.77 to $2.0 is what Tezos has been trading around. If the prices do not reach over the $2.0 a steeper drop in prices may be expected. 

The XTZ/USD pair is now trading at around $1.78 and it seems the bears are still in control of the market. The trading volume is low, indicating the market is not as active, supported by the RSI indicator at 30 showing the market is oversold. 

The MACD indicator is bearish  and it seems as if the bears are still controlling the market. However, if bulls gain momentum in the near future, they may be able to push the price over $2.0 and take over the market.  The main support levels are $1.70, $1.60, and 1.60 while the main resistance levels are $2.0, $2.10, and $2.20. 

The market is currently trying to make  a comeback after a major sell-off. While the market’s bearish has held Tezos down from its $2.0. Expectations that the market will remain volatile in the near future are high.

Related articles

Recent articles