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  • Tezos trades nearly 10% higher as the whole cryptosphere gets a boost.
  • The chart pattern on the 4-hour timeframe has broken to the upside.

XTZ/USD 4-hour chart

Tezos has pushed higher on Thursday as the whole crypto market received a boost. Looking at the 4-hour chart the price pushed through the psychological 2.00 level of the back of decent volume. Elsewhere, the price is holding above the 55 and 200 moving averages, which is also a bullish sign. 

Looking at the indicators, the RSI has pushed to reach elevated levels but there is still some potential for a move higher. In terms of targets, the red horizontal line could be the next zone for the bulls. 

Tezos Chart Pattern Break