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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 Technical Analysis: XTZ/USD bounces above $3 and aims to break $3.34
Lorenzo StroeLorenzo StroeIndependent Analyst

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

XTZUSD

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

xtzusd

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

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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