Tesoz [XTZ] Price Analysis Prediction Feb. 9 / Tezos XTZ is only one bump away from all-time highs

hello everyone. before moving on to the video we ask you to
support us and subscribe to our channel please. Tezos is up 113% in less than six weeks to
trade at $3.39. The bullish momentum has been consistent,
in tandem with the bull run in the cryptocurrency market. However, the uptrend stalled on hitting September
2020 resistance at $3.5. XTZ is likely to break out to its all-time
highs of around $4.5 if it closes the day or settles above $3.5. Despite the stalling under $3.5, Tezos’s
uptrend is still intact, especially when the Moving Average Convergence Divergence is closely
monitored. This indicator tracks the momentum of an asset
as well as the trend direction. Traders spotting entry and exit positions
can also utilize it. For instance, when the MACD blue line crosses
above the signal line, we can expect the price to increase. On the other hand, exploring the levels under
the signal line signifies the beginning of a downtrend. For now, the MACD shows that the uptrend is
intact, thus the expected uplift to $4.5.

The 4-hour chart shows the formation of a
bullish pennant pattern, which signifies a trend continuation. A bullish pennant is formed by a rising flag
pole followed by consolidation in a short-term triangle. The consolidation is succeeded by a breakout
in the same direction as the previous trend, thus validating Tezos’s possible rally to
$4.5. Despite the bullish outlook, it is important
to realize that the upswing to $4.5 may fail to come to fruition mostly if Tezos fails
to overcome the selling pressure at $3.5. (September 2020 resistance). The MACD line crosses under the signal line
on the daily will also highlight a probable breakdown. On the downside, support is expected at the
50 Simple Moving Average, currently at $2.7. Other support levels to have in mind are the
100 SMA, holding at $2.4, and the primary buyer congestion at $1.85. Subscribe to our channel and open notifications
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