fxs_header_sponsor_anchor

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

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

We won’t have a confirmed uptrend on the 4-hour chart until XTZ climbs above $3.07, however, both EMAs have crossed bullishly. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.