XTZUSD to see a breakout(1D) | Potential gap up observed

Market in last 1 week

• XTZUSD saw consolidation with the price started to ride the upper Bollinger band
  
• Price volatility was very high. The market moved ~39.79%, between $2.814 and $2.013
  

Today’s Trend analysis

• XTZUSD expected to see a breakout as potential gap up observed with Bollinger band expanding
  
• Price at time of publishing: $2.815
  
• XTZ’s market cap: $2.105 Billion
  
• Oscillator indicators are mostly neutral. RSI at 72
  
• Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral and Hull MA indicates a buying opportunity
  
• Volume indicators saw a decrease in volume with price declining while volume increased as price increases
  

Price expected to see a breakout as potential gap up observed with Bollinger band expanding. Most of the Oscillator indicators are neutral. MACD line moving above the signal line with histogram size increasing in the positive region, suggesting a bullish bias. RSI at 72, in the overbought region indicating a downtrend soon. CCI is around 297, in the overbought region indicating a downtrend. Another interesting point to notice here is that volume saw a decrease in volume with price declining while volume increased as price increases indicating a strengthening buying pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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- Mudrex