The Tezos price analysis shows that bears have taken control of the market and the XTZ/USD pair is trading below the $1.09 level as the market sentiment is bearish. The sellers are dominating the market and the bears could push the price below the support level of $1.09 in the near term. The daily, 4-hour and technical indicators are all pointing to a bearish trend in the market. In addition, the 24-hour trading volume has increased by 28.54%, indicating a lack of volume in the market.

Looking at the chart, a bearish engulfing pattern has formed, which is a sign of a possible bearish reversal. The MACD is in bearish territory as the signal line is above the MACD line and the histogram is red, indicating a bearish momentum. The RSI is also in the bearish zone, trading close to the overbought region. The moving average (MA) is also dropping, suggesting bearishness in the market.

The current Tezos analysis shows the price has been on a downtrend trajectory and is likely to continue the bearish trend unless buyers take control and push the price above the resistance level of $1.17. In case of an upside breakout, the XTZ/USD pair could test the resistance levels of $1.19 and $1. 21, respectively. Conversely, if the bears are in control, then the price could continue to drop and test further support levels at $1.08 and $1.07, respectively.



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