Tezos Technical Analysis: XTZ/USD recovers from a sudden drop below $3

XTZ/USD suffered a spike below $3 as the entire crypto market collapsed for a short period of time.
The Twitter hack promoting a cryptocurrency scam seems to have affected the entire market.

Tezos is still trading inside a massive daily uptrend and is not facing a lot of resistance until $4. The current daily candlestick is a bullish one, especially if the buyers can hold Tezos price above $3.24.

XTZ/USD 4-hour chart

XTZUSD

Despite the last spike towards $3, the 4-hour chart remains in an uptrend and is showing good recovery. XTZ is currently trading above the 12-EMA at $3.07 and it’s getting close to the last high at $3.34.

XTZ/USD 1-hour chart

XTZUSD

On the hourly chart, we have a similar situation with XTZ still above both EMAs which were on the verge of a bear cross but didn’t. Te hourly uptrend is also still in play and bulls are now waiting for a healthy pullback before the next leg up.

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