Home Tezos Technical Analysis: XTZ/USD bulls keep charging on as price breaks past $3.25
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Tezos Technical Analysis: XTZ/USD bulls keep charging on as price breaks past $3.25

FX Street
Published date:
  • XTZ/USD is currently trending in an upward channel formation.
  • The Elliott Oscillator has had 12 straight green sessions.
  • XTZ/USD is presently overvalued as William’s %R is trending inside the overbought zone.

XTZ/USD daily chart 

XTZ/USD daily chart

XTZ/USD bulls retained control for the seventh straight day as the price went up from $3.2275 to $3.25 in the early hours of Thursday. The price is presently trending in an upward channel formation. The Elliott Oscillator has had 12 straight green sessions, wherein it went up from -0.3101 to 0.43.  This shows that the overall market sentiment is presently overwhelmingly bullish.

William’s %R is trending deep inside the overbought zone around -.2.27. This indicates that the asset is currently overvalued and is long-overdue a bearish correction. XTZ/USD has healthy support levels at $3.05, $2.965, $2.70 (SMA 50) and $2.58 (SMA 20).

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