Crypto Technicals: XTZ/USD finds strong support at 4H 200-SMA, break below to see further weakness

XTZ/USD chart - Trading View 

Exchange - Bitfinex

Support: 1.0439 (4H 200-SMA); Resistance: 1.2611 (5-DMA)

Technical Analysis: Bias Bearish

- The pair has broken below 21-EMA support and has slipped lower

- Price action has retraced from session lows at 1.0555, just shy of 38.2% Fib at 1.0516

- Doji formation on the daily charts till now raises scope for some upside

- We see strong support at 4H 200 SMA, break below required for further downside

- Stochs and RSI have rolled over from near overbought levels and are biased lower

- Break below 4H 200 SMA will see weakness till 0.91 (50% Fib). Break above 5-DMA negates bearishness

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