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  • Tezos is on a decent rally and trades 4.36% higher on Tuesday.
  • The price is now firmly trading above the psychological 2.00 level and the next resistance is some way away.

XTZ/USD daily chart

Tezos has been on quite a run since hitting the lows of 1.009 seen on March 13th. The price is now trading well above the 2.00 level. Looking at the chart now although the price is higher there are some key Fibonacci extension levels above the price. The 38.2% is next and this is often considered as one of the best Fib zones along with 61.8%. 

Looking closer at some of the other technicals now, the volume seems to have increased at the right time. Although it is still relatively low compared to the aforementioned low, the green bars are picking up as the price is moving higher. The RSI is also in a good space above the 50 mid-line and with room to reach overbought zones. The 55 and 200 daily moving averages have also been broken which is also a great sign that the trend might continue in the longer term. 

Tezos above 2.00 psychological level