- XTZ crypto price action shows slight signs of recovery after the fall on intraday session
- The 24-hour volume in Tezos is $527,688,338, with a gain of 53%
- XTZ/BTC pair is trading negative by 3.09 at 0.0001145 BTC
The 4-hour technical chart of XTZ crypto price action projects a negative Momentum. According to pivot points, XTZ’s critical support level is $5.30. Whereas if it jumps up, the crucial resistances to watch are $8.80. Besides, the chart also features two white soldiers’ candlestick pattern showing a bullish trend with medium reliability.
The Exponential Moving Average (EMA), consisting of EMA 20 & 50, acts as solid support in the coin’s price levels. EMA 20 is getting close to EMA-50, indicating an ending positive trend. Investors may perceive the price is also below EMA-50. So until the price remains below both EMA, it will ensure the Tezos bearish momentum.
The Schaff Trend Cycle (STC) projects a downtrend with a value of 0, indicating a strong sell signal. Additionally, Investors can see a downward curve in the index, which may stay in a bearish trend for future trading sessions.
The volume of (1.75M) showcases a huge volume above the Volume MA (732.60K) of 20-days. Tezos maintains high buying pressure to drive its price level to an excessive zone. Investors may also observe inclining volume in the chart, indicating big moves are being created.
The parabolic SAR indicator suggests a sell signal in Tezos on May 10th. No signs of a buy signal have been observed, which is a bad sign for the investors of XTZ.
Has Recovery Begun in XTZ Crypto Price Action
XTZ crypto price was trading at $6.21 with 7.40% negative daily and 7.50% positive returns in the weekly period. Furthermore, technically, the price shows little signs of recovery and is trying to cross above EMA-50. With the support of buying pressure, the price may hit the resistance level of $8.80 in a future trading session, which will give returns up to 50% to the investors in the short term.