Tezos Could Increase By More Than 30%!
The XTZ price is currently trading inside a strong support area found at 25,000 satoshis. This is the previous breakout level, the movement above which in the beginning of February eventually led to the all-time high price of 40,530 satoshis on Feb. 21.
The price has created a descending wedge, out of which it is in the process of breaking out. I think the price will break out for several reasons:
Target 1: 28,500 satoshis
Target 2: 33,500 satoshis
Stop loss: 24,000 satoshis
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The price has created a descending wedge, out of which it is in the process of breaking out. I think the price will break out for several reasons:
- Creation of a bullish reversal pattern inside a significant support area
- Bullish divergence in the RSI
- Possible RSI movement above 50
Target 1: 28,500 satoshis
Target 2: 33,500 satoshis
Stop loss: 24,000 satoshis
Please leave a Like and comment if you enjoyed the analysis.
First target reached after five days. Expecting a retracement followed by an upward move towards the second target.