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TEZOS Price Analysis: Will the formation of the death-cross cause more pain for the investors

TEZOS Price
  • Tezos is trading at $2.60 around 4.9% down from the previous level
  • The coin shows the bearish move in upcoming days because of the formation of the death cross
  • The coin is traded at 0.00008138 BTC around 1.57% down and 0.001353 ETH around 0.47% down with respect to Bitcoin and Ethereum
Tradingview

Tezos is a blockchain network that’s based on a smart network which is similar to Ethereum. The coin was founded in 2019 and founded by Arthur Breitman. The coin has the market capitalization of $2,216,787,950 and the circulating supply of 852,564,235.11 XTZ. volume of the coin is increasing on the charts, last 24 hrs volume of the coin is $79,799,318

Chart Analysis

On the weekly chart we see that the current candle breaks the previous week candle low. On the daily charts we can see that the coin is forming the descending triangle pattern. The coin made the all-time high of $8.42 and wiped all the gains and is currently trading at $2.58. 

Indicator Analysis 

Tradingview

According to indicator analysis, we get to know that the coin is facing rejection from 20 DEMA.  100 DEMA crosses the 200 DEMA which shows the bearish move in the coin. The coin is trading below all the exponential moving averages

RSI is trading neutral at 38.8 near its oversold region. No sign of any divergence in the coin.

In MACD we see that MACD line is trading near the SIGNAL line and ready for the cross-over. If the crossover takes place then the coin will see more fall 

Major supports and resistance for the coin is 

S1= $2.53 AND S2= $1.94

R1= $3.10 AND R2= $3.52