XTZ to see down breakout(1D) | Head & Shoulder Pattern completed

Market in last 1 week

• XTZUSD saw a sideways movement with the price increase followed by a decline
  
• Price volatility was very high. The market moved ~11.24%, between $2.268 and $2.038
  

Today’s Trend analysis

• XTZUSD expected to see a breakout downtrend as the Head and Shoulder pattern is completed with the volume confirming the pattern completion
  
• Price at time of publishing: $2.0977
  
• XTZ’s market cap: $1.569 Billion
  
• Oscillator indicators are mostly neutral. RSI at 42
  
• Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull MA indicates a selling opportunity
  
• Volume indicators saw a decrease in volume with price increase while an increase in volume observed with a price decline, with the total volume being below the 20-candle moving average
  

Price expected to see a breakout downtrend as the Head and Shoulder pattern is completed with the volume confirming the pattern completion. Most of the Oscillator indicators are neutral. MACD line moving above the signal line with histogram size decreasing in the positive region, suggesting a bullish bias. RSI at 42, below the midline in the neutral region. CCI is around -112, in the oversold region indicating a downtrend. Another interesting point to notice here is that volume saw a decrease in volume with price increase while an increase in volume observed with a price decline indicating strong selling pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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- Mudrex