After the price growth to the resistance area of 1.5, we see a drop back to 1.2. Here it is necessary to wait for the next move and determine the direction of the trade.
XTZ has formed a nice inverted H&S structure however the right shoulder is yet to form. The right shoulder is a bullish act.
I have shown this bullish move with the white bars pattern
Inverted H&S is a reversal pattern and is good for the bulls.
Daily timeframe
Here is the whole trading history of the once quite popular pair XTZUSDT
The XTZ price grew skillfully during 2019-2021 from $0.35 to $9
And then a stable downward trend, which has been going on for more than a year
Now the XTZUSD price is at a critical point.
If buyers can gain a foothold above $0.75 , there will be a good chance of working out the blue...
XTZUSD is forming the bear flag .
It doesn´t look like xtz formed the bottom like other altcoins did therefore we expect the bear flag to break down.
Speculative setup:
- price in a distribution mode
- wait for a break down to enter the trade
- target: 1 $
White rectangle period along green uptrend followed by red downtrend with the difference being in the second red downward line, going through and breaking the green uptrend
Regardless of this trendline break it could still signify a reversal
I put a long in on Tezos, here's another opportunity for a long.
entry - whenever you want ( i entered in at 1.5386)
tp - 1.6110
SL (3% or 5% of your entry) ( my SL is at 1.4925)
XTZ is one of the most legit projects in the crypto space.
I have a short term price target of $1.86 and $3 by the end of the year.
Looking forward to read your opinion about it.
The small golden coin for today with the possibility to increase to 3 USD.
It's interesting to watch it out coming 72H.
This is an expectation depending on technical analysis and not finance advice.
Which is the safest stablecoin?
USDC gained in market capitalization while USDT slipped billions of dollars post UST fiasco.
Stablecoins form a crucial part of the crypto ecosystem bridging traditional currencies and crypto assets. They contribute to more than 90% of the all crypto transactional volume on a daily basis. It has received widespread adoption mainly...
Our TEZOS chart shows a promising rebound to 2.998 could be in play.
Price has support at 1.823 that has already been checked, as well as resistance at 2,04. After that level the rise should be able to accelerate.
FOOD FOR THOUGHT:
LUNA's disaster could be good news for Tezos: www.nytimes.com
One Love,
the FXPROFESSOR
Tezos price analysis shows that the XTZ/USD pair is trading in a bullish trend as the market price has surged by over 5% in the last 24-hours. The market price is currently facing resistance at $1.79 however, if it breaks above this level, it could surge to $2. The next level of support is present at $1.68.The Tezos price is currently trading at $1.78.
Consistent higher lows can be seen on the left chart (coinbase)
Each one of these lows provides a unique support level
The uptrend isn't going anywhere
On the right I demonstrate how price is above a confirmed support level
This will lead to a bounce and return upwards
Bullish
It has good support and is ready for a jump in the 30 minute time frame.
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