XTZ/USD

XTZ/USD

Gate Trade XTZ Tuesday, April 14, 2020 342 1

Tezos (XTZ) has been stuck between both the moving averages for the past few days. This shows a state of balance between the bulls and the bears as both are unwilling to take large bets.

 

However, this tight range trading is unlikely to continue for long. We expect the range to expand within the next few days.

If the bulls can propel the price above the 50-day SMA ($2.07) and $2.185 resistance zone, the XTZ/USD pair is likely to start a new uptrend that can reach $2.75 and above it $3.33. 

Conversely, if the bears sink the pair below the 20-day EMA ($1.87), a drop to $1.65 and below it to $1.4453 is likely. The traders who are long can keep a stop loss of $1.40 to protect their positions.