XTZ: The Beginning of a Reversal?
Hey guys, this is Julie 😉
Let's talk about Tezos today.
I am quite optimistic about XTZ, it is in a clear support zone (orange line) - this region has served as support/resistance many times before, and it doesn't look like it will be lost this time.
The bears don't seem to have the strength to make Tezos fall again.
We can see that the volume has increased a lot today, proving that the bulls are stronger! 🔥
And we have a nice Bullish Pivot on the hourly chart, reinforcing again that XTZ is recovering and this could really be the beginning of a reversal.
If today's candle closes above this green line, I believe it would be the best time to buy XTZ.
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On the weekly chart we can see that Tezos is still in a Bull trend, making higher highs/lows (I can't post the image here).
And that is why I believe that if today's pivot is not triggered, Tezos will not fall below the red line (the price low in Dec 04).
It may start to move sideways for a while, but it is very unlikely to fall.
And that's it! Thanks for reading my analysis! Please, support me with your like and subscription! 😍
Bye bye, have a nice day. 😉
Let's talk about Tezos today.
I am quite optimistic about XTZ, it is in a clear support zone (orange line) - this region has served as support/resistance many times before, and it doesn't look like it will be lost this time.
The bears don't seem to have the strength to make Tezos fall again.
We can see that the volume has increased a lot today, proving that the bulls are stronger! 🔥
And we have a nice Bullish Pivot on the hourly chart, reinforcing again that XTZ is recovering and this could really be the beginning of a reversal.
If today's candle closes above this green line, I believe it would be the best time to buy XTZ.
__
On the weekly chart we can see that Tezos is still in a Bull trend, making higher highs/lows (I can't post the image here).
And that is why I believe that if today's pivot is not triggered, Tezos will not fall below the red line (the price low in Dec 04).
It may start to move sideways for a while, but it is very unlikely to fall.
And that's it! Thanks for reading my analysis! Please, support me with your like and subscription! 😍
Bye bye, have a nice day. 😉
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