Hello everyone,
XTZ is coming at a decision point. Will it breakout to the upside or downside? If XTZ breaks to the upside, there is some great upside potential. There isn't all that much resistance until we get close to the ATH, where I expect to get a rejection first. So take your profits between $8 and $9. If we break ATH, we are looking at a price around $11.30, as per fibonacci extension. You can take the trade on breakout, or if you feel like it, buy now. In both cases set your stoploss below the trendline.
However, XTZ could potentially break to the downside as well. In that case I expect a retrace to the 200 moving average. Right now that is about $4.60. Strong support is in the $4.20 area which will be great to load up on XTZ. However I do not expect this scenario to play out unless the entire market dips.
Edit: I forgot to mention that I would like to see volume pick up for a good uptrend. The volume isn't great right now.
XTZ is coming at a decision point. Will it breakout to the upside or downside? If XTZ breaks to the upside, there is some great upside potential. There isn't all that much resistance until we get close to the ATH, where I expect to get a rejection first. So take your profits between $8 and $9. If we break ATH, we are looking at a price around $11.30, as per fibonacci extension. You can take the trade on breakout, or if you feel like it, buy now. In both cases set your stoploss below the trendline.
However, XTZ could potentially break to the downside as well. In that case I expect a retrace to the 200 moving average. Right now that is about $4.60. Strong support is in the $4.20 area which will be great to load up on XTZ. However I do not expect this scenario to play out unless the entire market dips.
Edit: I forgot to mention that I would like to see volume pick up for a good uptrend. The volume isn't great right now.
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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.