Quicker Than A Vet $XTZ $XTZUSD $Crypto
Daily (zoomed out)
Looking at our higher timeframe we see XTZ has already broken it's coinbase ATH, while many other coins are still gaining traction. Stochastic RSI showing momentum has returned in favor of the bulls, however price might be thinking otherwise.
Taking a closer look at our higher timeframe we see the price has been respecting its uptrend since Nov 6th, a rejection off our dynamic support at our current level ($2.80-$2.97) confirms we will continue to head towards the upside. Stochastic RSI showing momentum heading towards the downside, however, if you follow this channel we know that indicators rely on price and we shouldn't rely wholly on just indicators.
4Hour
Finally looking over at the trigger timeframe we see the price has double topped at $3.60 and has been descending since. When we draw a Fibonacci from our previous breakout at $2.00 we see price is currently testing our 50% retracement. Stochastic RSI showing momentum has bottomed out and we should be seeing a reversal at this level. Looking for another retest of our dynamic support, a 4hour close above $2.97 has me convinced we will continue towards the upside. XTZ is one of the few coins that was introduced during the bear market, which means we will be seeing multiple ATHs if and when.
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