Lorenzo Stroe
Independent Analyst
- XTZ had a 14% dip towards $3.8 in the last 24 hours but the buyers managed to push XTZ back up.
- XTZ bulls defended the 12-EMA on the 4-hour chart.
Tezos was trading as high as $4.43 before a significant rejection that made the digital asset drop to $3,8 in the next 16 hours.
XTZ/USD 4-hour chart
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Tezos has been performing far better than the rest of major cryptocurrencies as its bull rally didn’t have any pauses. XTZ/USD just formed its 2020-high at $4.43 and it’s now under healthy consolidation. Bulls have defended the 12-EMA twice and they are looking for the next leg up.
The 26-EMA at $3.7 will serve as the next support level if the 12-EMA at $3.97 cracks. Of course, the $4 psychological level will also be a strong support point for the bulls.
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