XTZ Price Analysis – November 30
XTZ/USD is seen following the bullish momentum; its price hovers around $2.47 but fails to maintain stability above $2.56.
Resistance levels: $3.0, $3.2, $3.4
Support levels: $2.0, $1.8, $1.6
XTZ/USD has been maintaining its price movement above the 9-day moving averages with the intraday price fluctuations. However, the overall bullish market of the cryptocurrencies seems not to have affected Tezos much. Over the last 24 hours, the coin has done some shifts while the latest gain is around 4.85%.
What Is the Next Direction for Tezos?
The daily chart shows that the buyers are coming back into the market. Meanwhile, if the bulls can push the price above the 9-day and 21-day moving averages, crossing the upper boundary of the channel, the nearest resistance level lies at $2.9. A further movement may take the price to $3.0, $3.2, and $3.4 resistance levels.
In other words, if the market begins to drop, the next key support may likely be at $2.3, and should the bulls fail to hold the support level, the price may further reach $2.0, $1.8, and $1.6 levels. The RSI (14) is making an attempt to cross above the 60-level, indicating a bullish movement at the moment.
XTZ/BTC Market: Consolidating to the Sideways
Against Bitcoin, XTZ has been very low due to a recurring bearish sentiment which has caused the market to fall. In other words, the price actions remain choppy, started a sideways movement a few days ago. The market is indecisive now but the traders have to be on the watch for the possible next direction.
For a positive upsurge, the 1550 SAT and 1600 SAT are the major resistance levels for the coin for now. More so, a negative spike could retest the important support below the moving averages at 1150 SAT before a possible slip to 1050 SAT and below. The RSI (14) is moving in the same direction, indicating a sideways movement.