Tezos (XTZ) is attempting to rise above the 20-day EMA at $1.74. If successful, a move to $1.955 is possible. We anticipate the bears to defend the zone between $1.955 and the downtrend line aggressively.
If the XTZ/USD pair turns down from $1.955, it is likely to extend its stay inside the $1.4453-$1.955 range for a few more days.
Conversely, if the bulls can push the price above the overhead resistance at $1.955 and the downtrend line, a new uptrend is likely. Though the 50-day SMA might offer some resistance, we expect it to be crossed.
The target objective to watch out on the upside is $2.75 and above it $3.20. Therefore, we have retained the buyrecommendation given in the previous analysis.