Price action of XTZ has found a very long term support on weekly chart. And this time priceline is again moving down towards this support.
On daily chart the priceline is moving within a down channel. The moon phases indicator is showing new dark moon appeared above support of channel and new full moon is at the resistance. The priceline is likely to be rejected by the resistance.
On short term 4 hour chart a perfect down trend can be seen.
On more short term hourly chart the priceline was moving in an up channel but broke down the support of this channel as well.
Conclusion:
On short term charts the priceline is turned bearish. On daily chart it is likely to move down after being rejected by the resistance of the channel. On long term weekly chart there is more cushion to drop more up to the support of long term support. Therefore when Tezos will be at the long term support that can be the best buying time.
On daily chart the priceline is moving within a down channel. The moon phases indicator is showing new dark moon appeared above support of channel and new full moon is at the resistance. The priceline is likely to be rejected by the resistance.
On short term 4 hour chart a perfect down trend can be seen.
On more short term hourly chart the priceline was moving in an up channel but broke down the support of this channel as well.
Conclusion:
On short term charts the priceline is turned bearish. On daily chart it is likely to move down after being rejected by the resistance of the channel. On long term weekly chart there is more cushion to drop more up to the support of long term support. Therefore when Tezos will be at the long term support that can be the best buying time.
