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Author Topic: XTZUSD -1D  (Read 18226 times)

coinchase

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XTZUSD -1D
« on: October 16, 2019, 03:34:46 pm »
 #XTZUSD, 1D, update

▫️ Remember this chart? 


No problem if you don't because we're updating the Tezos market too. This one is even older than LINK: its last update was given on the 7th of August. At that time, the price was flirting with the highest macro-level of resistance: $1.46; after its false break-up, XTZ/USD began a long period of correction, failing to transform its former resistance ($1.32) into support. A strong rejection has occurred around that level (right under the red-pointed arrow), one that gave buyers a headache of -45%.

▫️ $1.1, the upper red level of support acted properly when the price came to give its first test. That lasted for 12 days. After that, buyers gave up protecting this horizontal so sellers took advantage: they pushed the price to the last level of support - $0.85. This one is really important. So important that it was respected by the market when it came back to give it a retest after 70 days. If this level of interest is lost by the bulls and gets turned into resistance - then we may expect a continuation to the downside. $0.70's could come in if that happens, but they're not reliable levels.


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« Last Edit: October 17, 2019, 08:25:57 am by CH-Admin »
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