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Tezos (XTZ): Another Alt Breakout?

COINBASE:XTZUSD   XTZ/USD
When it comes to altcoins, we have had success going with the trend since we got bullish Komodo ( KMD ) back on November 6. We think that breakout ushered in a mini alt season where higher quality alts started to trend higher. These new trends are in contrast to the previous price action in alts where alts would spike and then fall back down.

One distinct difference between now and then is that alts have rallied and then consolidated in a sideways fashion. This would lead us to believe that more upside is possible. Tezos (XTZ) is a good example. After doing a sideways consolidation, XTZUSD and XTZBTC (not shown) are both starting to advance above high volume zones. To us, that means there can be more upside in Tezos (XTZ).

Bottom Line: In alts, it's pretty simple. Any alt that's up on Bitcoin ( BTC ) down days could be setting up for a major trend higher. It doesn't always turn out that way, but fans of altcoins can be active buyers in quality coins. You can buy on dips and go with rallies if you can catch it when the move starts.
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