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16.11 - 09:25
Tezos may need more than mini-rallies to overturn a this trend
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ambcrypto.comTezos has been itching to break out of its parallel channel which lasted for almost the entirety of October. Over the last five days, bulls formulated two attacks on the upper trendline but sellers responded at certain resistance points, upholding XTZ’s larger downtrend.
With another lower low looking imminent, XTZ was expected to tag its lower trendline once again before a breakout. At the time of writing, XTZ traded at $6.44 with a market cap of $5.6 Billion.
Source: XTZ/USD, TradingView
XTZ’s recovery post multiple false crashes during September has been quite impressive. The alt registered rallies of 107%, 68% during September, and finally, 71% heading into the first week of October. Since then, a deleterious down-channel has impaired
Read more on ambcrypto.comAbout this in other media
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