# Crypto Technicals: Tezos slips below 50-DMA, eyes 50% Fib at 1.1263

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2096
Published: 2019-06-04T11:57:20.000Z
Updated: 2019-06-04T11:57:20.000Z
Section: Investing

> Support: 1.1263 (50% Fib); Resistance: 1.4405 (5-DMA)

[XTZ/USD](<https://www.tradingview.com/symbols/XTZUSD/>) chart - Trading View

Exchange - Kraken

Support: 1.1263 (50% Fib); Resistance: 1.4405 (5-DMA)

Technical Analysis: Bias Bearish

Tezos in the red for the 3rd straight week, bias remains bearish.

XTZ/USD has breached 50-DMA support to hit fresh 3-week lows at 1.2260.

Price action has held above daily cloud top, violation there will see weakness.

Technical studies support downside. MACD is biased lower and we see -ve DMI dominance.

Stochs and RSI are sharply lower and 5-DMA shows bearish crossover on 20-DMA.

'Bearish Divergence' on RSI and Stochs on the daily charts adds to the bearish bias.

Next bear target lies at 50% Fib at 1.1263. Retrace above 50-DMA to see consolidation.

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).

## Links in this article

- [XTZ/USD](https://www.tradingview.com/symbols/XTZUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)