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- Tezos price is trading with strong uptrend momentum over the daily chart, and XTZ has gained more than 11% in the last 24-hour period.
- The crypto asset has successfully recovered above 20 SMA and is now heading toward the remaining bullish hurdles of 50, 100, and 200-days Daily Moving averages.
- The pair of XTZ/BTC is at 0.0000674 BTC with an intraday gain of 5.94%.
Tezos price is trading with a strong uptrend momentum inside a symmetrical triangle pattern over the daily chart. The token is preparing for its escape and is rising towards the upper trendline. XTZ investors may witness a strong bullish momentum over the daily chart as soon as the token registers its breakout from the symmetrical triangle pattern. XTZ bulls look pretty determined to provide the required momentum to the token. Tezos coin price is trying to escape the symmetrical triangle pattern over the daily chart. XTZ must accumulate buyers to register its breakout.
Tezos price is presently CMP at $2.11 and has gained more than 11% of its market capitalization in the last 24-hour period. Trading volume has increased by 60% in the intraday trading session. This shows that XTZ bulls are accumulating to register the token’s breakout. Volume to market cap ratio is 0.03511.
Tezos price is trading inside a symmetrical triangle pattern over the daily chart. XTZ coin price is about to register its breakout from the pattern as it rises with a strong uptrend momentum over the chart. However, volume change is below average and needs to grow in the intraday trading session for XTZ to register its breakout. XTZ bulls must accumulate themselves to see the steady uptrend momentum.
Support on the lower end is $1.87, and resistance on the higher side is $2.25.
What do Technical Indicators Suggest about XTZ?
XTZ coin price is trading with a strong uptrend momentum inside the symmetrical triangle pattern. The token is prepared to register its breakout, and bulls need to sustain out of the pattern to let XTZ hike towards the primary resistance level. Technical indicators suggest strong uptrend momentum of XTZ inside the symmetrical pattern. In contrast, supertrend shows the long-term bearish momentum of XTZ coin and XTZ being stuck inside the symmetrical triangle pattern.
Relative Strength Index showcases that XTZ is heading towards overbought territory as it crosses the neutrality. XTZ has finally managed to get away from neutrality after so long. MACD exhibits the uptrend momentum of XTZ coin. The MACD line is ahead of the signal line approaching the 0 to enter the positive zone.
Conclusion
Tezos price is trading with a strong uptrend momentum inside a symmetrical triangle pattern over the daily chart. The token is preparing for its escape and is rising towards the upper trendline. Technical indicators suggest strong uptrend momentum of XTZ inside the symmetrical pattern. XTZ has finally managed to get away from neutrality after so long. XTZ investors may witness a strong bullish momentum over the daily chart as soon as the token registers its breakout from the symmetrical triangle pattern.
Technical Levels
Support Level: $1.87
Resistance Level: $2.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
