Hello investors! Tezos is engaged in a strong bull trend, but this weekend it moved sideways as its volatility and volume increased. As I’ve been saying, XTZ is very bullish, and there’re no signs of bears around. If you missed my previous XTZ analyses, the link to them are below, and remember to follow me to keep updated.
Now, it’s trading above the 21 ema and above its previous tops, which is very good. Now, let’s see the daily chart for a better perspective:
The volume is clearly increasing, which means XTZ is getting interesting again, and it did a pullback to get closer to the 21 ema, as it’s typical after a pennant / triangle breakout. You could see a bearish pattern if you look at yesterday’s candle, but I wouldn’t take it too seriously, since the volume is lower than the green candles, and today’s candle is so bullish that I see it as an opportunity for those who are out to buy XTZ.
Now Tezos found its resistances at the “new resistance zone”, and the last line to be defeated is the $ 3.03, which is an interesting point, and it gets even more interesting if we look at the weekly chart:
Tezos is trading above the 61.8% fib retracement, and if it breaks out the $ 3.03, there’s no resistances on its way, and the next target is the $ 3.93 again. Very good, right? In my view XTZ is a real keeper.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
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Nathan Black is putting in the work!! I enjoy your chart work and commentary. As a long term HODL i am enjoying the ride. If you are not following Nathan, get on board the train as it it leaving the station. Be safe
Nathan_Black
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@Miamicane1, Hey, man, thank you for the kind words! I'm glad you enjoy the analyses! I'll do another one today, with some updates, so stick around, my friend!
I wish you well.
paypay9000
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I 100% agree
Nathan_Black
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@paypay9000, Thank you paypay! It seems xtz will fly high!
I wish you well, my friend.
THGB
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Does it seem to be breaking out? Thank you
Nathan_Black
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@THGB, Oh yes, if it break out the $ 3, the next target is $ 3.03, then only the $ 3.32 will remain. This could be a quite impressive movement. I'll update you guys tomorrow about this.