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XTZUSDT

Tezos medium term bull scenario (USD)Expect more short term selling pressure as significant buyers remain on the sidelines until price capitulates one final time. The current chart is not appealing at the moment for traders with size - easily shown by the declining trading volume since 2019's high. Watch volume closely. Also, watch the Tezos price trend cycle throughout the day. When daily trading highs are made morning or mid day, and followed by a sell off to close the day -- typically means that more downside is coming. On the contrary, when the day starts out red but closes higher than it began, traders are starting to accumulate and hold positions. Now to my projection. I am a believer in ascending triangles. I see one in the making with Tezos and believe it will ride the ascending triangle for the medium-term. My price projections are based off of similar moves from Tezos and other cryptoassets as they formed and broke out of their patterns. Typically it takes 3 attempts to break ascending triangle resistance. Once resistance is broken it will immediately flip to support. If support holds I firmly believe that we will not see $2.00 XTZ ever again. Love to hear your thoughts. Good luck!
KRAKEN:XTZUSDLong
by m00nsnacks
Tezos - Time for the next wave up?I have been wrestling with what to do with XTZ and whether or not a re-entry is warranted at these levels. My initial thinking was that we would go down to $1.20 or $1. and I wanted to wait to see what XTZ would do once it hit those levels. We did indeed test the $1.2 area. Very quickly. Every time Tezos has looked to violently move down, even in the face of XTZ/BTC breaking down XTZ/USD has held up nicely. Tezos just hasn't broken down as it should have. The daily chart is really telling here. I kept thinking tezos might form a larger head and shoulder and move to $1. And that's a concern if we can't break above the $1.50-$1.60 area. However, notice how we have based out a created an upwards sloping base at this 1.25 area? This is creating a diamond-like formation or almost a choppy inverse head and shoulders if you zoom in. If this is indeed the beginning of the next wave up. We will see XTZ hit $2-$2.30. We have broken the downward trendline that has held prominent for a couple weeks. While the daily doji was concerning, we have actually closed and held above it. Look at that Daily MACD. While it hasn't crossed it, it seems poised to do so. that could be premature, but it's looking good. RSI also came off an almost oversold play. Tezos has also had one of the most solid user growth bases and so far has been continuing the trend upwards in that regard. Which indicates an increase in value over time in Tezos. All of these factors lead me to believe that we will continue to push up in Tezos and a re-entry is warranted. Of course, this is crypto, we never know what is going to happen, but so far it appears we will grind higher and go to at least the $1.50 area. Happy trading and hodling, -Sherem
COINBASE:XTZUSDLong
by Sherem
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