Hey, friends hope you are well and welcome the new update on Tezos Coin. In this video you will watch how:
Price action of XTZ has found very long-term support on the weekly chart. And this time priceline is again moving down towards this support.
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On the daily chart, the priceline is moving within a down channel. The moon phases indicator is showing a new dark moon appeared above support of the channel and the new full moon is at the resistance. The priceline is likely to be rejected by the resistance.
On short term 4-hour chart, a perfect downtrend can be seen.
On a more short-term hourly chart the priceline was moving in an up channel but broke down the support of this channel as well.
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Conclusion:
On short term charts, the priceline is turned bearish. On a daily chart, it is likely to move down after being rejected by the resistance of the channel. On the long term weekly chart there is more cushion to drop more up to the support of long term support. Therefore when Tezos will be at the long-term support that can be the best buying time.
