Tezos Price Analysis: XTZ is moving toward the apex of an important pattern

• The price of Tezos is trading 1.76% lower on Wednesday as crypto sentiment remains mixed.
• There is a chart pattern on the 4-hour chart and the pair is edging toward the apex.

XTZ/USD 4-hour chart

Tezos has been coming off its highs in recent sessions as with most of the crypto majors. They all seem to be moving in tandem and following each other to the letter. Now this pair is moving toward the point of the triangle pattern on the 4-hour chart below. 

A break could give us some clues to the future direction of the price. The RSI is in a depressed position under the 50 mid-line which indicates more bearishness is on the way. The next support zone on the downside could be 1.80 which has been used a few time on the left-hand side of the chart.

If the blue trendline breaks this is also a pretty bearish signal and it seems the bulls were not able to sustain a move above the psychological 2.00 handle.