Tezos Technical Analysis: Chart points to more upside potential

• Tezos has fallen 1.90% today but the chart is still bullish.
• 1.70 is the next resistance level to watch on the upside.

XTZ/USD Hourly Chart

As you can see from the chart below the market is making higher lows and higher highs.

The move has also accelerated to break out of the channel.

The next resistance is 1.6513 on the upside.

The pattern that has currently been created is a consolidation zone.  

The support zone is 1.5325. The volume has been supporting the move to the upside all the way through the rally.

XTZ/USD Daily Chart

The daily chart also shows there is some upside potential.

The resistance level is 1.70 but the price may be losing some momentum at the moment.

Beyond that the next high is at 1.94 close to the 2.00 psychological level.