Tezos

The bear market is overwhelming as altcoins trade below their moving averages. In other words, cryptocurrencies are in a downward correction at the bottom of the chart. The biggest losers among the altcoins are trading and buying at lower levels, while the upside is hindered below the moving averages.

Tezos has been making an upward move but it is facing resistance at $3.50 high. The candlesticks are indicating long wicks. This implies that there is strong selling pressure at the $3.50 resistance zone. In a similar price action, on February 5 and 6, the bulls were repelled as XTZ slumped to $3.10 low.

On January 31, 2021, Tezos (XTZ) coin fell to $2.86 low after rejection from 3.0 high. The crypto has fallen to the support above the 21-day SMA.

Today, January 17, 2021, Tezos (XTZ) has fallen to $2.69 after the rejection from the $3.17 high. Initially, it fell to $2.83 low before correcting upward.

Presently, Tezos is trading at $1.90 at the time of writing. In recent times, the coin has faced a series of rejections. Each rejection will amount to a downward movement of the coin.

Tezos (XTZ) has been making an upward move for the past four days. The crypto is facing another rejection at the $2.40 resistance.

Tezos is still trading in a sideways move since September. The altcoin is fluctuating between levels of $1.95 and $2.50.

On November 8, Tezos faced rejection at the $2.20 resistance as it continued its range-bound move between $1.80 and $2.40.

Tezos has been in a downward move since August. The downtrend extended to a low of $1.92. At the low of $1.92, the price was corrected upward but the selling pressure resumes to the downside.