XTZ/USD

XTZ/USD

Gate Trade XTZ Thursday, April 9, 2020 448 1

Tezos (XTZ) broke above the overhead resistance of $1.9555 on April 7, which is a positive sign. Though the bulls could not sustain the price above the downtrend line, we like that the price has stayed above the breakout level of $1.9555.

 

The 20-day EMA has started to turn up gradually and the RSI is in the positive zone, which suggests that bulls are making a comeback.

Above the downtrend line, the 50-day SMA ($2.22) might offer resistance but we expect it to be scaled. The target level to watch on the upside is $2.75 and then $3.33. Therefore, the traders can buy if the XTZ/USD pair closes (UTC time) above $2 and keep a stop loss of $1.40