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Tezos may need more than mini-rallies to overturn a this trend
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Tezos has been itching to break out of its parallel channel which lasted for almost the entirety of October. Over the last five days, bulls formulated two attacks on the upper trendline but sellers responded at certain resistance points, upholding XTZ’s larger downtrend.
With another lower low looking imminent, XTZ was expected to tag its lower trendline once again before a breakout. At the time of writing, XTZ traded at $6.44 with a market cap of $5.6 Billion.
Source: XTZ/USD, TradingView
XTZ’s
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