- Tezos trades over 2% higher on Friday but there is a resistance zone at 2.82 that needs to be taken out.
- The volume indicator is showing a distinct lack of momentum which shows the lack of momentum.
XTZ/USD 1-hour chart
Tezos is still in an uptrend on the higher timeframes but if you zoom into the hourly (like the chart below) the price seems to be stuck. The market has been within a range since April 24th and there does not seem the be enough conviction to break out.
Bitcoin has been moving higher and sometimes this does drag up general sentiment in the smaller coins but not in the case of Tezos. There are still some positives on the technical side as the price is trading above both 55 and 200 moving averages.
The volume bar at the bottom shows the extent of participation in the market and as you can see its dire at the moment. The relative strength indicator is above the 50 mid-line which is positive but at the moment the signal line is slanting down.
%20(17)-637245622464844030.png)
Share
