XTZ/USDT Testing Critical Support
$XTZ

Here’s the analysis for XTZ/USDT based on the latest data:

XTZ/USDT is currently trading at $0.633, down by -0.16%. The price action indicates bearish pressure, trading below the 200-period moving average, which stands at $0.659. This suggests that sellers currently have more control in the market. The VWAP is $0.629, close to the current price, indicating a balanced but bearish sentiment as well.

The RSI is at 41.98, showing that the asset is nearing oversold conditions but not quite there yet. This means that the selling momentum is still in play, but a possible relief bounce could occur if the RSI moves further into oversold territory.

The MACD is showing slight bearishness as well, with the MACD line at -0.002 below the signal line at 0.001. The histogram is currently in negative territory, indicating that bearish momentum may continue in the short term.

Key support levels to watch are around $0.60, which coincides with the recent support zone visible on the chart. If XTZ breaks below this level, further declines toward $0.55 could be possible.

On the upside, immediate resistance lies near $0.65, which coincides with the 200-period moving average. A break above this level would be necessary to invalidate the bearish trend and possibly signal a bullish reversal.

Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Always conduct your own research before making trading decisions.

#6thTrade #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #Market_Update