XTZ Price Arriving On Critical Support Level Due To Downtrend

The technical chart of XTZ price focuses on the gradual positive momentum, which resulted in the testing of critical resistance present at $3.00. The resistance level provided significant bearish reversals which resulted in a negative breakout below the 0.382fib level. The price levels have also suffered negative breakout against 20-EMA and 50-EMA respectively. If the downtrend continues further, it is expected to found support at 200-EMA.

The moving average & convergence (MACD) also faced a bearish crossover and looked vulnerable to go below the signal line.

The relative strength index (RSI) has retraced back from the bullish regime while standing at 42.35.

The directional movement index (DMI) has also consolidated wherein ADX looked vulnerable for a negative crossover against -DI.

Resistance Level: $3.00
Support Level: $2.20 & $2.00


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