Tezos Price Analysis: XTZ attempts to break resistance at $6

TL;DR Breakdown Tezos price analysis is bearish for the next 24 hours.Tezos saw a bounce from $6 support today.Further upside currently gets rejected. The bearish trend in Tezos’ price analysis continues today, with the market retreating from $6 and rejecting any additional gains near $5.85. As a result, we expect XTZ/USD to attempt to re-test the $6 support once again. The overall market was in the red for the previous 24 hours. Bitcoin has dropped by 4.85 percent and Ethereum by 6.36 percent during this period. Cardano (ADA) is the most notable loser, with an 8% drop over this time frame. Tezos price movement in the last 24 hours: Tezos rejected by $6 mark XOTZ/USD has fluctuated slightly during the last 24 hours, with prices ranging from $5.49 to $5.81 this week. Trading volume hasn’t changed much; it’s up by just 0.71 percent and stands at $918 million. Meanwhile, the total market capitalization is about $4.9 billion. XTZ/USD 4-hour chart: XTZ to go for another test of the $6 support? On the hourly chart, we can see that the Tezos price has yet to move significantly higher today, implying another selloff before night falls. XTZ/USD 4-hour chart. Source: TradingView Tezos price has been on a tear lately, with the asset gaining steam in recent weeks. After declining to $4 on September 7th, a new significant swing high was established. XTZ/USD rose 100% from $8 on the 14th of September to $20 on the 25th. H...