Tezos Price Analysis: XTZ/USD goes up by 6.7%

• XTZ/USD went up from $1.19 to $1.27.
• XTZ/USD rises above the SMA 20 curve.

XTZ/USD went up from $1.19 to $1.27 this Thursday, charting a 6.7% growth in the process. Following a bearish Wednesday, where its price went down from $1.19 to $1.175, the bulls managed to recover the price. Technical analysis shows us that the market sentiment is becoming bullish and more growth may be on the horizon.

XTZ/USD Daily Chart (Kraken)

• XTZ/USD is now trending above the SMA 20 curve.
• The latest sessions also took the price in the upper half of the20-day Bollinger band.
• The squeeze of the Bollinger band shows decreasing market volatility.
• Bulls will be testing the $1.33 resistance soon.
• The signal line is about to converge with the MACD line showing decreasing bearish momentum.
• The relative strength index (RSI) indicator is trending at 60.60 and moving towards the overbought zone.