• XTZ/USDT fell 6.5% in 24 hours, with a key breakdown below the 0.8300 support.
• High volume divergence occurred at the 0.8600 swing high, followed by a sharp selloff.
• RSI entered oversold territory, suggesting potential for a rebound, but bearish momentum dominates.
• Volatile session with 0.8000 briefly tested, signaling heightened bear pressure.
• Bullish engulfing pattern seen near 0.8000 but failed to hold, indicating weak short-term buying.
Tezos (XTZ/USDT) opened at 0.8286 at 12:00 ET − 1 and traded between 0.8640 and 0.7938, closing at 0.8054 by 12:00 ET. The 24-hour notional volume was $2.53M and total turnover was $1.01M, reflecting active trading amid bearish pressure.
Structure & Formations
XTZ/USDT broke key support levels at 0.8300 and 0.8200, with a bearish reversal pattern forming at 0.8600. A bullish engulfing pattern emerged near 0.8000 but failed to trigger a meaningful bounce. A 0.8130 support level appears to be the next critical target, with a potential reversal likely if buyers can hold it.
Moving Averages
On the 15-minute chart, price closed below the 50-period and 20-period moving averages, both sloping downward. Daily MA indicators (50, 100, 200) show the asset is in bearish alignment, suggesting a continuation of the trend is probable unless a strong reversal occurs.
MACD & RSI
The 15-minute MACD histogram has turned bearish, with negative divergence indicating continued selling. RSI has moved into oversold territory (below 30), hinting at potential short-term buying interest, but the overall momentum remains firmly bearish.
Bollinger Bands
Volatility expanded during the selloff, with price hitting the lower band at 0.7938. A reversal could occur if price remains above 0.8000, but continued weakness may push it toward the lower band of the next consolidation range.
Volume & Turnover
A massive volume spike was observed around the 0.8600 level, suggesting a failed attempt at a bullish breakout. Turnover also surged during the breakdown below 0.8300, confirming the bearish sentiment. Divergence between price and volume is not evident, reinforcing the bearish narrative.
Fibonacci Retracements
The recent 15-minute pullback from 0.8640 to 0.8000 aligns with a 61.8% Fibonacci retracement at 0.8230, with 0.8130 the next key level. Daily Fibo levels suggest a potential support zone at 0.7960, with a break below that indicating further downside risk.
Looking ahead, Tezos may find temporary support near 0.8000, but a close below 0.7938 could accelerate the decline toward 0.7900. Traders should monitor volume and RSI for early reversal cues, though the near-term bearish bias remains intact. As always, be mindful of sudden volatility spikes and macro-driven risks.
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