XTZ/USDT Could XTZ back to the supply area or downward is coming

2月4日

💎XTZ has indeed garnered significant attention in the market. It has faced rejection three times at the supply area, and the support trendline has proven to be resilient in preventing further downward movement.

💎 Currently, XTZ is still making efforts to move upward and attempt to break out of the supply area. If this attempt proves successful, it probability could trigger a bullish momentum, potentially leading the price to reach our target area.

💎 However, if XTZ fails in its ascent and breaks below the support trendline, this could indicate a bearish turn in the market. Such a scenario might lead to a downward movement, with the potential for the price to return to the demand zone around 0.766.

💎 When the demand area is reached, it becomes crucial for the price to bounce and resume its upward movement. The bearish scenario is confirmed if XTZ breaks below the demand area, which could result in the price continuing its descent toward the strong support area or establishing a new bottom.