Tezos Price Analysis: XTZ continues to retrace, closest support at $6 to be tested?

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. Tezos price analysis is bearish for today as bears continue to slowly push XTZ lower after reaching the $8 mark on Tuesday. Therefore, we expect a further decline to follow, with the closest support being the $6 mark, where XTZ/USD found resistance late last month. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded with a slight bearish momentum over the last 24 hours. The market leader, Bitcoin, lost 0.03 percent, while Ethereum managed to gain 3.12 percent. Meanwhile, Avalanche (AVAX) is the best performer, with a gain of more than 25 percent. Tezos price movement in the last 24 hours: Tezos continued to retrace from the $8 high XTZ/USD traded in a range of $6.54 – $7.21, indicating strong volatility over the last 24 hours. Trading volume has declined by 23.12 percent and totals $790 million. Meanwhile, the total market cap trades around $5.72 billion, ranking the coin in 31st place overall. XTZ/USD 4-hour chart: XTZ targets the $6 resistance turned support?  On the 4-hour chart, we can see the Tezos price continuing to decline today as bears look to retest the $6 mark as support. XTZ/USD 4-hour chart. Source: TradingView Tezos price action traded with a strong bullish momentum over the past weeks. After a quick spike to the $4 mark on ...