Crypto Technicals: Tezos retraces slightly from 6-month highs at 1.4306, shows signs of exhaustion above 61.8% Fib

XTZ/USD chart - Trading View 

Exchange - Bifinex

Support: 1.2550 (5-DMA); Resistance: 1.43 (Trendline)

Technical Analysis: Bias Bullish (signs of exhaustion)

- XTZ/USD has slipped lower from 6-month highs at 1.4306, signs of exhaustion seen at highs
- Pair has slipped below 1.40, Doji formation at highs raises scope for weakness
- Bearish divergence evidenced on daily charts, Stochs RSI has approached overbought conditions
- No major trend-reversal signs seen, possibility of pullback
- Immediate support seen at 5-DMA at 1.2607, break below will see drop till 21-EMA at 1.0551
- Bullish continuation finds next major resistance at 78.6% Fib at 1.6383

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