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Tezos Price Analysis: XTZ/USD is trending in levels not seen since July 2018

FX Street
Updated:
  • XTZ/USD bulls took back control of the market this Wednesday after a brief period of correction.
  • The MACD shows sustained bullish sentiment, while the RSI is trending inside the overbought zone.

XTZ/USD daily chart

XTZ/USD daily chart

XTZ/USD bears eked out an advantage in the early hour of Wednesday to bring the price down slightly from $3.45 to $3.4375. This follows a heavily bullish Tuesday wherein the price of the asset jumped from $3.16 to $3.45. This bullish action happened after a brief period of bearish correction. Presently, XTZ/USD is trending in levels not seen since July 2018. The MACD graph shows that bullish momentum was decreasing before it picked up steam following Tuesday’s price action. However, the RSI indicator is still hovering inside the overbought zone, hinting that XTZ/USD may experience a bit more bearish movement in the near future.

FX Street

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