XTZ/USD

XTZ/USD

Gate Trade XTZ Saturday, April 11, 2020 408 1

Tezos (XTZ) broke above the downtrend line on April 8, which triggered our buy suggested in the previous analysis. However, the altcoin has turned down from the 50-day SMA, which is a negative sign.

 

The bears will not attempt to sink the XTZ/USD pair below the 20-day EMA ($1.84). If successful, a drop to $1.65 and below that $1.4453 is possible. Therefore, the traders can keep the stop loss on the long positions at $1.40.

Conversely, if the pair rebounds off the 20-day EMA, it will signal to buy on dips. If the price breaks above $2.185, the pair is likely to rally to $2.75 and then to $3.33.