PRESS RELEASE: After Surging 7%, Tezos Market Hits a New Monthly High at $1.3

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Tezos (XTZ) Price Analysis – April 15

Maintaining a bullish scenario, Tezos markets are currently riding to close support after gaining 7% in the last 24-hours of trading. Meanwhile, XTZUSD is retracing to $1 after breaking out of a symmetrical wedge pattern yesterday; XTZBTC constructed a bullish Head and Shoulder pattern since March, now connecting the right Shoulder to the neckline at 18000 SAT.

XTZ-USD Market

Key Levels:

Resistance levels: $1.3, $1.5

Support levels: $1, $0.8

From $0.4 low in March, Tezos market slowly climbed to $1.1 high before constructing a symmetrical wedge pattern which led to a bullish breakout yesterday after moving side-way since April opening. A new 2019 all-time high was poised for XTZUSD market today at $1.23; surging 7% in the last 24-hours of trading.

XTZUSD, 4H Chart – April 15

Currently, a bullish retracement is riding towards the break level at $1 support. The actual scenario is shown on the 4-hours RSI as it faces down. At this support, a possible break down could send the token to a $0.8 support level and beyond. Similarly, resuming a bullish rally could propel price to $1.3 resistance level and above.

XTZ-BTC Market

A bullish Head and Shoulder (H&S) pattern has been carved for XTZBTC market since late March as the right Shoulder is yet to be completed; currently forming as price fall to the neckline at 18000 SAT support level. The neckline is a strong defensive level for the bulls.

XTZBTC, 4H Chart – April 15

As appeared on the medium-term RSI, Tezos trading just left the overbought territory; reflecting a short move. If the bears manage to breach the bulls defense level, a significant drop could bottom at 10000 SAT support; revisiting the early March rise level.

In the opposite scenario, an upward movement is likely to meet resistance at 24000 SAT and above.

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The post After Surging 7%, Tezos Market Hits a New Monthly High at $1.3 appeared first on FXTimes.com – Daily Cryptocurrency and FX News .

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