Why Tezos is so RESILIENT?
Hello investors! As we can see, XTZ still didn’t lose its blue trendline, as the price is struggling above it right now, which makes Tezos the most resilient crypto in my view, and I consider myself as a big fan now. For every bear reaction here, the bulls always retaliate, and XTZ simply can’t engage in a bear trend, and that's bull power!
Probably, this bullish trend has something to do with its fundamentals, which I confess I’m no expert at this subject, at least yet, and if someone could recommend me where I can learn more about XTZ I would appreciate. I like to use fundamentals to support my decisions, along with TA, of course. I’m always learning here, and if you like to learn too, remember to follow me to become part of our community!
Back to the chart, XTZ must defeat this dashed purple trendline and the 61.8% fib retracement, then we can see it reaching the $ 3.3 again. What bugs me, and you should be aware too, is the low volume, it’s easier for the bears to strike in this occasion, so we must see some reaction here! Still, I wouldn't find a pullback all the way back to the $ 2.13, the 38.2% fib retracement, scary or something to worry. Now, let’s see the hourly chart as usual:
XTZ has a support at $ 2.60, and now the 21 ema is flat again. If the bulls defeat the blue line at $ 2.73 will be very good, and we may see a retest of the fib retracement, where the fight gets good. Let’s see how XTZ will behave in the next days!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Probably, this bullish trend has something to do with its fundamentals, which I confess I’m no expert at this subject, at least yet, and if someone could recommend me where I can learn more about XTZ I would appreciate. I like to use fundamentals to support my decisions, along with TA, of course. I’m always learning here, and if you like to learn too, remember to follow me to become part of our community!
Back to the chart, XTZ must defeat this dashed purple trendline and the 61.8% fib retracement, then we can see it reaching the $ 3.3 again. What bugs me, and you should be aware too, is the low volume, it’s easier for the bears to strike in this occasion, so we must see some reaction here! Still, I wouldn't find a pullback all the way back to the $ 2.13, the 38.2% fib retracement, scary or something to worry. Now, let’s see the hourly chart as usual:
XTZ has a support at $ 2.60, and now the 21 ema is flat again. If the bulls defeat the blue line at $ 2.73 will be very good, and we may see a retest of the fib retracement, where the fight gets good. Let’s see how XTZ will behave in the next days!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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