- Tezos is underperforming on Tuesday as the pair altcoin trades 1.69% lower on the session.
- There are also some bearish signals on the chart after a pattern has been broken to the downside.
XTZ/USD 4-hour chart
Tezos is looking slightly more bearish than some of its counterparts. The chart below shows that The blue trendline has been broken to the downside and a retest has been completed without the price managing to push back in. The support zone marked in purple now could be key if the bulls are to get hold of this market once again. There is also the psychological 1.50 mark in the way of the move down too.
Looking closer at the chart now, the MACD indicator seems to be in no man’s land. It is showing signs the market is in a sideways trend with a very small histogram and the signal line is also lacking direction. The main support line it the parity point at 1.00 but the bears would need to firmly take control of this market and at the moment it seems unlikely. On the topside, The grey resistance just under 2.00 is the key target for bulls. The volume looks to be low but in the crypto market that can change at the drop of a hat to be aware.
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