Tezos continued on its established path to the downside, with XTZ showing no signs of recovery, at the time of writing. Waves made strong gains in August, however, at press time, it showed a lack of momentum in the near-term, while generally trending south over the month. Zcash flashed a bullish signal, but the market climbed only momentarily before slipping.
Tezos tested its resistance level at $2.56 once last week, but did not look likely to surpass the level after that. Subsequently, XTZ dropped to find support at $2.24.
The Directional Movement Index (DMI) showed that the bearish trend was strengthening, as the ADX (yellow) climbed above 20. It is likely that XTZ will continue to slide downwards.
Tezos has also registered lower highs and lower lows for a month now and showed no signs of halting its bearish momentum. The next levels of support for the crypto-asset were at $2 and $1.81. Read More at AMB Crypto