This website uses cookies to ensure you get the best experience on our website

Technical Analysis for XTZUSD for 25th October 2021

Tezos Under Pressure, will XTZ Prices Hold above $6 to Validate the Uptrend?

Past Performance of XTZ

After bottoming up in late July, Tezos prices tripled before peaking in October 2021. 

Presently, XTZ/USDT prices are pulling back, retesting the primary support trend line. 

According to CryptoAltum price feeds, XTZ is stable on the last day, shedding three percent versus the USD.

What to Expect of XTZ

From a top-down approach, Tezos buyers have the upper hand per price action in the daily chart. 

Even so, in the short term, XTZ sellers are in control, forcing prices down. 

XTZ buyers haven't successfully tamed the draw-down, flipping price action in favor of sellers in the short term. 

A close below $6 may force the coin to $4.5. 

However, if Tezos buyers flow back and force prices above the middle BB, the coin could recover, racing back to $8.5.

Tezos Technical Analysis

Buyers are in command visible in higher time frames. In the short term, the failure of buyers to slow down sellers may extend losses from early October. 

As per the candlestick arrangement in the daily chart, the immediate support line is $6, and the multi-week support trend line. 

A dip below this mark may see XTZ/USDT slide to $4.5 in continuation of October 2021 losses. The bear target flashes with the 61.8 percent Fibonacci retracement level of the Q3 2021 trade range. 

Conversely, there will be reprieve if Tezos flows back, thrusting the coin above last week's highs of around $7. This may be the basis for a rally to October 2021 highs of $8.5.

Resistance level to watch: $7

Support level to watch: $6

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020