- Tezos price didn’t surpass the $2.56 resistance
- ZCash Showed a Bullish Divergence Via the 4-Hour Chart
- WAVES has its Major Support at $2.32
Tezos News Today – the price of Tezos has continued maintaining an established path towards the downside. The digital asset has shown no signs of making a recovery, at press time. Meanwhile, the digital asset WAVES made strong gains in the last month, however, at press time, the coin has shown a lack of momentum in the near-term outlook. It is generally trending southward since the month started. Zcash initially flashed a bull signal. However, the market managed to climb momentarily before slipping backward once more.
Tezos Price Didn’t Surpass the $2.56 Resistance
The price of Tezos tested key resistance at $2.56 once in the past week. However, it did not look to surpass this level after attaining it. Subsequently, the price of XTZ dropped to find some form of support at $2.24. The DMI (Directional Movement Index) showed that the bears were strengthening their position, as the ADX climbed above level 20. It is looking likely that the price XTZ will continue sliding down. The price of Tezos has registered lower highs and lows for the past 30 days now. It has not shown any signs of halting this bearish momentum. The coin’s next support levels rest at $2 and $1.81.
ZCash Showed a Bullish Divergence Via the 4-Hour Chart
Zcash posted a bullish divergence via the 4-hour chart. The price of ZEC also formed lower lows. The RSI momentum indicator formed higher lows. However, the divergence for ZEC may have already played out, as the coins’ price was driven up from $57.3 to $59.3, according to the cyan arrow. Apart from this divergence, the RSI for ZEC/USD paints a picture that indicates mounting bearish pressure. The RSI for the coin has not risen above level 50 in the past seven days. It was reportedly noting a bear value of 40, at press time.
WAVES has its Major Support at $2.32
WAVES has already been in a downward movement in recent days. The Bollinger Bands have tightened around the coins’ price. This observation indicates falling volatility and a consolidation period. Support for WAVES lies at $2.32. A break, with the expanding Bollinger Bands backed by heavy trade volume, will determine the next direction WAVES will take. WAVES is currently ranked number 57 on CoinMarketCap and holds a total market cap of $260 million. The coins’ 24-hour trade volume has averaged $40 million in the last few days, compared to the $114 million it had on September 13. At the time the price of WAVES surged from $2.59 to $3.11.