Tezos Technical Analysis: XTZ/USD bounces above $3 and aims to break $3.34
|- XTZ/USD had a notable drop below $3 hitting $2.92 before quickly recovering.
- Tezos remains extremely bullish and is eying up $3.34.
Tezos had a significant 50% rally towards $3.4 that started on July 5 and made XTZ price blast through several daily resistance levels and clearly confirming an uptrend. That was not the 2020-high, though, as XTZ established the high on February 19 at $3.95.
XTZ/USD daily chart
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XTZ bounced perfectly off the daily 12-EMA at $2.92 and it’s looking for the next leg up within the next few days. The bullish momentum remains strong after defending the daily 26-EMA twice establishing a healthy consolidation and cooling off several indicators.
XTZ/USD 4-hour chart
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We won’t have a confirmed uptrend on the 4-hour chart until XTZ climbs above $3.07, however, both EMAs have crossed bullishly.
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