XTZ/USD Falls Below $4.47 Daily High – Cryptovibes.com – Daily Cryptocurrency and FX News
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Tezos Price Analysis – February 11
The Tezos price begins today with the uptrend, but the coin is likely to fall below the crucial support level of $4.0.
XTZ/USD Market
Key Levels:
Resistance levels: $5.0, $5.5, $6.0
Support levels: $3.5, $3.0, $2.5
As of today, after touching the daily high at $4.47, XTZ/USD is now dropping to cross below the 9-day moving average and may drop further if it breaks down the previous support within the channel to trade below the 21-day moving average. However, any bullish movement above the upper boundary of the channel may allow the price to hit the resistance levels at $5.0, $5.5, and $6.0 respectively.
Tezos Price Analysis: XTZ May Break to the Upside
At the time of writing, the Tezos price remains above the 9-day moving average as the coin decides which direction to follow. However, should in case the bulls do not meet to protect the support level at $4.0, the price could go down to $3.5, $3.0, and $2.5 which are the next support levels. However, as the technical indicator reveals, provided the buyers failed to keep the price above the moving averages, the Relative Strength Index (14) is likely to cross below 55-level to increase the bearish movement.
XTZ/BTC Market: Tezos Price May Go Bullish
Compared with Bitcoin, on the daily chart, Tezos (XTZ) is likely to follow a bullish movement as the price may rebound above the 9-day moving average. Now, the bears appear to be stepping back in the market, and traders can expect the price to fall to the support at 8300 SAT and below. But at the time of writing, XTZ/BTC is yet to break below the daily low of $9600.
However, if the buyers push the price above the upper boundary of the channel, the next level of resistance could be located at 1000 SAT and more resistance may be found at the resistance level of 1100 SAT. The trading volume may likely turn to the positive side as the technical indicator Relative Strength Index (14) moves to cross above 55-level
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