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  • Like most of the cryptocurrencies, Tezos trades higher on Thursday.
  • There has been a chart pattern break backed by decent volume. 

 

XTZ/USD 1-hour chart

Like all of the major cryptocurrencies, Tezos has had a tough month. XTZ/USD fell from 3.95 to hit a low of 0.9892.(299.31%). Other than being volatile Tezos was one of the best earners this year and looked like it could have been the new Bitcoin. Unfortunately in the recent fall, it fell just as much as the rest if not slightly more.

Looking at the intraday chart now, you can see that the market held above the 1.00 psychological level. Then the market preceded to make higher lows and also some lower highs which converged into the triangle pattern on the hourly chart. Just recently there has been a break higher and looking at the volume histogram it seems there has been some interest in the move as it has been moving higher.

Tezos chart patterns