Tezos grinds closer to the ultimate triangle pattern breakout with the potential to hit $3.20 in the near term. XTZ/USD bullish trend is supported by both the MACD and the RSI; more gains expected in the upcoming sessions. Tezos has been losing its ground in the market, especially in regard to the market cap. Data by CoinMarketCap shows XTZ having lost its top ten status and retreated to the 13th position. At the time of writing, the cryptoasset has a market cap of $1.8 billion and has attracted a recorded 24-hour trading volume of $95 million. It is apparent that attention has shifted to digital assets such as Cardano (ADA) and Crypto.com Coin. Cardano’s performance is attributed to the launch of a new mainnet protocol while Crypto.com Coin keeps investors interested due to its staking offers. Read also: Cardano Price Forecast: ADA/USD skyrocketing as $0.14 beckons Tezos technical analysis XTZ/USD is dancing at $2.61 and battling the resistance at 50-day SMA. Recovery has been steady since the beginning of June. Note that Tezos embraced support above the 200-day SMA following the rejection at $3.00 in June. The ascending trendline (part of the symmetrical triangle pattern) has also been instrumental to the recovery from the devastating fall in March. As the price grinds close to the triangle resistance, a rally is expected to beat June’s hurdle at $3.00. The RSI is currently above the midline. This follows a sharp rise from 30 (oversold region). A continued movement towards 70 (overbought region) would encourage more bulls to have confidence in the recovery, eventually pushing XTZ/USD past $3.00 and towards $4.00. The same uptrend is supported by the MACD in the daily range. A bullish divergence above the MACD suggests that buying pressure is on the rise. Moreover, if the MACD crosses into the positive area, we can expect more bullish price actions. Therefore, Tezos is likely to remain in the bullish momentum and trend for the near term. XTZ/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD: Rebound remains capped below 1.1300 ahead of EU budget talks FX Street 3 years Tezos grinds closer to the ultimate triangle pattern breakout with the potential to hit $3.20 in the near term. XTZ/USD bullish trend is supported by both the MACD and the RSI; more gains expected in the upcoming sessions. Tezos has been losing its ground in the market, especially in regard to the market cap. Data by CoinMarketCap shows XTZ having lost its top ten status and retreated to the 13th position. At the time of writing, the cryptoasset has a market cap of $1.8 billion and has attracted a recorded 24-hour trading volume of $95 million. It is apparent that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
