Source: XTZ/USD, TradingView
The Bollinger Bands on Tezos noted some incoming volatility in the price as the indicator was expanding. The candlesticks also traded on the upper band, signaling a potential reversal towards the lower band. Moreover, some selling pressure was registered by the On Balance Volume as the index dipped slightly on the charts. A bearish scenario could see XTZ fall towards the $2.76-resistance. In case of a further pullback, the 200-SMA (green) would act as a buffer against the price drop.
On the contrary, a bullish outcome would see XTZ trade on the upper band of the Bollinger Bands over the next few trading sessions. A break above the $3.1-resistance would present the next upside at $3.29.
Ontology traded between an ascending parallel channel, with a breakout unseen over the last few days. A short term fall was projected by the Stochastic RSI after a bearish crossover took place in the overbought zone. Although the Awesome Oscillator registered a single point of bearishness, it noted the potential shift of momentum towards the selling side.
While most signs pointed to a southbound breakout, a surge in trading volumes and healthy buying activity would mean that the bulls can hold on to the bottom trendline. Considering the broader market rally as well, a fall was unlikely over the next few sessions.
Verge seemed to have lost out to $0.017 as the price dropped by over 5% in the last 24 hours. A drop below the half-line on the Chaikin Money Flow and a 41% fall in the 24-hour trading volumes accentuated the likelihood of a further pullback moving forward. The MACD backed the bearish prediction, as the Signal line crossed above the fast-moving MACD line.
The strong support line at $0.014 is likely to cushion losses in the event of a price fall. A move below the aforementioned support level would see XVG target the line of defense at $0.012.