TestLuka Advanced May 23, 2020
If you are trading XTZ, then you know it has been trading in an uptrend channel for a long time now. However, take a look at the red circle, XTZ went to test the resistance line of the channel and it was rejected (twice) . Since then it is trading in a downtrend and it has tested the support line of a channel a couple of times (purple circle). At this point, the bulls will try to break over the downtrend line (yelow) and push XTZ out of this downtrend. If they do not push it out, we can see another retest of the support line.