Rajarshi Mitra
Independent Analyst
- XTZ/USD bulls have remained in control for the fifth straight day.
- William‘s %R has dipped back inside the overbought zone.
XTZ/USD daily chart
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XTZ/USD went up from $2.90 to $2.97 as the bulls remained in charge for the four consecutive days. The price is trending in an upward channel formation and looks to break past the $3–level.
William‘s %R has dipped back inside the overbought zone, which shows that the price is overvalued and may soon face bearish correction. The Elliott Oscillator has had 11 straight green sessions.
Support and Resistance
The bulls will want to conquer the $3.044 resistance line to continue the upward momentum. On the downside, healthy support lies at $2.90, $2.78, $2.67 (SMA 50) and $2.50 (SMA 20).
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