XTZ.USD (Y20.P3.E1).Dont forget TezosHi All,
Tezos is beginning to show some signs of strength.
Recently it has broken a key level and if it can hold, this pattern will likely play part of a much larger movement.
This will be new territory for all time highs, just like Link and hence it will be difficult to forecast beyond here.
If I was to guess, $4.25 is the target for this Elliot impulse to point (1) at the macro level.
Observations:
Note key levels of resistance and support on the daily and short time frames are clear;
2Day chart> bullish momentum still to the upside as per Phoeix indicator.
Daily Chart > Bearish div, potential pullback;
4 HRLY Chart > Have 2 targets, difficult to say for the short term.
XTZ.BTC daily chart
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Regards,
S.Sari
XTZUSD
Tezos (XTZ) - July 12Hello?
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We received support from the downtrend line (2) and rose.
We need to make sure we can get support by rising above 2.7490 points.
We need to make sure we can rise above the downtrend line (3).
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** Check support, resistance and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee profit or loss on investment.
Description of abbreviations shown in chart
R: Resistance point or section, where a countermeasure is needed to preserve revenue.
S-L: Stop-Loss point or section
S: A point or section that can be purchased for profit generation as a support point or section
Uptrend channel on XTZ.Hello, traders.
TEZOS/BTC is inside a bullish uptrend channel on the 4-hours chart, so we believe that the price has room to go test the top of the channel, and later the important resistance level.
What Is an Ascending Channel?
An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs.
Ascending channels show a clearly defined uptrend. Traders can swing trade between the pattern’s support and resistance levels or trade in the direction of a breakout or breakdown.
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$3.10 must be brokenTezos finds itself at a most critical juncture. $3.10 is possibly a more challenging resistance level for Tezos than $2.00 was earlier this year. The fact that xtz has not pumped above $3.10 yet during the recovery gives me hope that many of the would-be sellers on the ride up are exiting here. Thus, if we can get past this level many of the sellers will have left, clearing the way for buyers to take over the market.
The longer the battle for $3.10, the greater the odds that $3.10 shifts to firm support. Sustain a break above $3.10 and this is where things should become fun.
TEZOS - potential fractal to $7+TEZOS looking like it wants to follow its own run up from Jan - Feb 2020.
I understand no two patterns and moves are exactly the same but this could provide some good direction as support and resistance match up pretty well.
Something to keep an eye on the rest of July and going into August.
Thoughts/comments?
TG
Tezos Is Back On The LaunchpadThe weekly chart reveals XTZUSD is primed to re-test its ATH.
Last week's candle closed strong and this weeks candle is already up above the past few months of consolidation candles.
With ATH just 15% above the current price, this week may see us get there, for a potential breakout next week.
RSI is not over stretched. MACD is turning up.