XTZ has been a serious laggard this cycle, but I think it will go back to $4 over the next few months. Targets are on the chart. If it drops below uptrend support, I wouldn't be surprised to see a lower low to $1.7. I know it sounds crazy to think about a lower low given the rise we've seen in BTC and ETH, but it's a technical possibility. I'm long now, but am open to the possibility that a final shakeout could occur. Let's see what happens.
Comment:
Based on this down move after touching first resistance, it looks like price movement is accelerating. If it stays above support, the upper targets will be reached much sooner than shown in the chart path. If it breaks below support, then... down to $1.70
Trade active:
I cannot believe my eyes, but it did in fact go to $1.70 as I mentioned in my post. I expect this is the bottom. I expect only upside from here. We should be above $3.00 in less than a month. I would only consider exiting this trade if a daily candle closes below $1.60.
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Taking some profit in this zone. It's a bit overheated.
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Broke out and retested $4. This is going to fly. I'm holding.