XTZ looks like it has already started or is about to do a reversal of its down trend. It has been in a down trend since the start of October, but sign are showing up that it is about to reverse.
As of the time of writing, the chart shows that it has broken above the trendline of a bearish wedge triangle. ( I hope the daily candle closes above the trendline).
Stoch is also very very low, last time XTZ's stoch was at this level, BTC was around 30k and XTZ has went up 300% since then.
Current price is also sitting around 0.382 fib level, which shows we are currently in a support area.
If daily candle closes above the wedge, then there is a high chance we touch 10.600 price point before seeing another consolidation or retest of supports.
However, if price does not close above the wedge, then we would have the chance to buy some more at around 6.150 price before bouncing hard to new ATH.
As of the time of writing, the chart shows that it has broken above the trendline of a bearish wedge triangle. ( I hope the daily candle closes above the trendline).
Stoch is also very very low, last time XTZ's stoch was at this level, BTC was around 30k and XTZ has went up 300% since then.
Current price is also sitting around 0.382 fib level, which shows we are currently in a support area.
If daily candle closes above the wedge, then there is a high chance we touch 10.600 price point before seeing another consolidation or retest of supports.
However, if price does not close above the wedge, then we would have the chance to buy some more at around 6.150 price before bouncing hard to new ATH.