Hello, dear traders and investors of the Blurt community!
Today, let's have a look at the price chart of Tezos.
In the weekly (1W) time frame, XTZ/USD has rebounded from the trend line:
So, it seems that the uptrend remains in place because the sequence of higher lows continues.
Moreover, because of the current price rebound, the price of Tezos has returned above the 30-day Moving Average (MA 30):
Let's see if the price will surpass the 90-day Moving Average (MA 90) and the 360-day Moving Average (MA 360) as well.
For this to happen, first, XTZ/USD has to exit the Descending channel (downtrend) in the upward direction:
As can be seen from the chart, right now, the price is starting to test the upper line of the channel.
To be continued ...
As of the time of writing, one XTZ costs $4,22 on the Binance crypto exchange, according to TradingView.
About my experience::
I've been working professionally as a currency analyst for the last 15 and a half years and as a cryptocurrency analyst for the last 4 and a half years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.