Tezos price is bounded inside a descending wedge on the daily chart. Several indicators have turned bearish for XTZ and show it’s poised for a pullback. Tezos has been trading inside a descending wedge on the daily chart since June 2020. Unlike other cryptocurrencies, Tezos hit its 2020-high of $4.49 on August 13 and has been consolidating since then. Tezos price faces strong selling pressure in the short-term The descending wedge formed on the daily chart is not close to a breakout or breakdown. However, the bulls have lost the 100-SMA and 50-SMA support levels as Tezos price is trading in the middle of the pattern. XTZ/USD daily chart The bears seem to have the upper hand after Tezos lost both moving averages. The potential price target would be the lower trendline of the descending wedge at around $1.7 in the mid-term XTZ/USD 12-hour chart However, on the 12-hour chart, the TD Sequential indicator seems to be on the verge of presenting a buy signal within the next 10 hours. If bulls can recover the 50-SMA and the 100-SMA as support levels on the daily chart, it could quickly push Tezos price towards the upper trendline of the descending wedge at $2.6. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next ECB decision on PEPP extension was not unanimous but had big majority – Reuters FX Street 2 years Tezos price is bounded inside a descending wedge on the daily chart. Several indicators have turned bearish for XTZ and show it’s poised for a pullback. Tezos has been trading inside a descending wedge on the daily chart since June 2020. Unlike other cryptocurrencies, Tezos hit its 2020-high of $4.49 on August 13 and has been consolidating since then. Tezos price faces strong selling pressure in the short-term The descending wedge formed on the daily chart is not close to a breakout or breakdown. However, the bulls have lost the 100-SMA and 50-SMA support levels as Tezos price is trading… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
