Tezos (XTZ) is down 12 percent in the previous trading in a bear breakout formation. The coin may slide to $1.7 if sellers double down. Past Performance of Tezos Tezos token prices are trending at new 2022 lows when writing, sliding, and trailing resurgent USDT bulls. At spot rates, XTZ is stable on the previous trading day but down 12 percent in the past week of trading. As per the set up in the daily chart, sellers are in a commanding position as the token is pinned within a bear breakout formation. Tezos Technical Analysis The path of least resistance is defined—southwards. Albeit flashes of fading strength from time to time, sellers are in control. XTZ crypto is within a bear breakout formation below Q1 2022 lows from the daily chart. The wide-ranging, bearish engulfing bar of April 30 leads the current price action. As long as sellers are below $3, traders may search for entries on every pullback towards the resistance level. The first target stands at the 1.618 Fibonacci extension level of theQ1 2022 trade range at $1.7. What to Expect from XTZ Token? The XTZ coin is within a bear breakout formation, clearing $3 and below the middle BB. As bear bars band along the lower BB, prices are stretched. If sellers press, XTZ may snap to $1.7 in a bear trend continuation pattern.The post Tezos at new 2022 Lows, XTZ Risks Falling to $1.7 first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Tezos at new 2022 Low...
