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Weekly forecast Tezos technical chart

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJune 4, 2023 - 10:56
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.700, beginning of uptrend is expected.
  • We make sure when the resistance at 1.490 breaks.
  • If the support at 0.700 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.850 on 05/25/2023, so more gains to resistance(s) 0.955, 1.055, 1.265 and maximum to Major Resistance (1.490) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 51.

Symbol Released Current Forecast
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