XTZUSD has been generally outperforming the market over the last week or so, and I expect it to continue outperforming the market for quite a long time. Broke out of an IH&S, retested the neckline, and then BOOMED to the upside with titanic volume. There's a lot of good news on Tezos, and it's significantly undervalued according to many blockchain usage metrics. There's a small but definite possibility that it's going for a parabolic run to somewhere in the vicinity of the previous 2021 ATH near ~$8.00. NOTE: This is not an exact price target, and I'm not sure yet if this will play out or not, still need to wait and see confirmation over the next few days. This speculative trade setup will be invalidated if the daily candle closes below the parabolic curve, currently around $4.20.
Comment:
$4.20 held like a champ and we popped straight up to $5.30. I expect a small pullback to $4.90, but I'm not ballsy enough to play it. Not worth exit my position before the fireworks have even started yet. Nobody knows precisely when the real show will start, but when it does... the entire industry will be talking about Tezos.
Sidenote, since it didn't actually dip all the way down to $4.20, I needed to morph the parabolic curve a little bit to keep it aligned with the price action.