Tezos Price Analysis: XTZ/USD faces bearish correction following three straight bullish sessions

XTZ/USD has dropped below the $4-mark.
The price is currently sitting on the 20-day Bollinger Band.
William’s %R has dipped below the overbought zone.

XTZ/USD daily chart

XTZ/USD faces bearish correction following three straight bullish days. The price has gone down from $4.257 to $3.97 and is presently sitting above the 20-day Bollinger Band. The Elliott Oscillator has had nine straight bullish sessions of increasing intensity. William’s %R has dipped below the overbought zone, showing that the asset is no longer overpriced.

XTZ/USD has one strong resistance level at $4.257. On the downside, we have four healthy support levels at $3.70, $3.245, $3.18 (SMA 20) and $2.87 (SMA 50).

The overall crypto market sentiment has reversed from negative to positive. Read more about it here.

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