Got it — let’s read this chart together 👀
This is $XTZ /USDT (1D timeframe) on Binance.
What the chart is saying
1. Trend
Overall structure = downtrend
You can see a lower high around 0.64 and a strong sell-off after that.
Recent candles show a dead-cat bounce / short-term relief rally, not a confirmed reversal yet.
2. Key Levels
Support
0.46–0.47 → important demand zone (price bounced here)
0.42 → major support (previous swing low)
Resistance
0.51–0.52 → first rejection zone
0.55–0.56 → strong resistance
0.60+ → trend turns bullish only above this area
3. Current Price Action (~0.48)
Buyers defended 0.46, which is good short term 👍
But price is still below key moving averages (bearish context)
Volume doesn’t scream “strong reversal” yet
Possible Scenarios
🔹 Bullish short-term (relief move)
Holds above 0.46
Breaks and closes above 0.51
Targets: 0.55 → 0.58
🔻 Bearish continuation
Loses 0.46
Next stops: 0.42 → 0.40
This would confirm the downtrend continuation
Quick Take
Short-term traders: tradable bounce, but keep tight stops
Swing/long-term: trend still bearish — patience needed
Trend reversal confirmation: only above 0.55–0.60 with volume
If you want, tell me:
Are you holding, looking to buy, or planning a trade?
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