A lot of cryptos did well in last weeks; found temporally bottoms and reversed. Buying interested has increased, but it is still too early to say this is a bull market. For some long-term investment it might be actually a good entry point.
From TA perspective and for some daily traders, I will cover XTZ (Tezos) coin. I will leave the meaning of it and technology behind and just focus on price movements.
On weekly time frame the price found support on $0.31 and $0.35 in USD value terms. Both supports are strong as you can see form the candle patterns. From there it climbed for 3th consecutive weeks and tested real support at $0.65. The support is aligned with 50 MA, which now guides us to next target at $1.05.
There is great potential XTZ would eventually move higher as the buying interest is still high. Potential targets are market in yellow.
From TA perspective and for some daily traders, I will cover XTZ (Tezos) coin. I will leave the meaning of it and technology behind and just focus on price movements.
On weekly time frame the price found support on $0.31 and $0.35 in USD value terms. Both supports are strong as you can see form the candle patterns. From there it climbed for 3th consecutive weeks and tested real support at $0.65. The support is aligned with 50 MA, which now guides us to next target at $1.05.
There is great potential XTZ would eventually move higher as the buying interest is still high. Potential targets are market in yellow.
Comment:
Target reached with sniper precision. I'm waiting for reversal and will look for re-entry.
Comment:
Targets hit with precision. Lets see if we can get re-test of support area at 1.05, that would be a perfect area for next bounce higher to 1.25 region.
Comment:
Trade closed @ $1.4