Tezos Price Analysis: XTZ breaks above $6 price barrier after a morning rally

TL;DR Breakdown Tezos price analysis is bearish today.XTZ/USD continued to decline over the past 24 hours.Closest support at the $6 previous resistance. The price of XTZ/USD is bearish for today’s Tezos price analysis, as bears continue to gradually push the coin lower after reaching the $8 level on Tuesday. As a result, we anticipate another drop in the near term, with support at the $6 mark (where XTZ/USD encountered resistance late last month). Over the last 24 hours, the cryptocurrency market was rather bearish. Bitcoin dropped 0.36%, while Ethereum lost 4.12 percent, marking a downtrend in the market. In contrast, Avalanche (AVAX) is the best performer, with a 24-hour improvement of more than 25%. Tezos price movement in the last 24 hours: XTZ continued to retrace The price of XTZ/USD fluctuated within a narrow range of $5.89 to $6.16 over the past 24 hours, showing significant volatility in that time frame. Trading volume dropped by 14.12% and is valued at $640 million as of writing this article. Meanwhile, the market capitalization stands at roughly $5.2 billion after falling by 9.24 percent. XTZ/USD 4-hour chart: $6 resistance flipped into support?  We can see the Tezos price continue to fall on the 4-hour chart today, as bears look to test the $6 support level as a support. XTZ/USD 4-hour chart. Source: TradingView For the previous weeks, Tezos price action had been characterized by strong bullish momentum...