XTZ Technical Analysis: Uptrend Ready To Surpass $4

The XTZ coin price may soon outgrow the rounding bottom pattern in the daily chart and rise above the $4 mark to carry forward the bull run in action. Tezos is an open-source platform that is described by said to be “secure, upgradable and built to last” -and claims that its smart contract language is able to provide the accuracy needed for high-value applications. Let us move ahead to read about XTZ technical analysis. Past Performance of XTZ The XTZ coin price shows dramatic growth of more than 30% in the past week with the series of bullish candles reaching the $3.75 mark. The growth brings a V-shaped recovery for the token as the chart shows a downfall of 35% in the previous week. That is how the price action completes a rounding bottom pattern in the daily chart. XTZ/USD Daily Chart XTZ Technical Analysis The XTZ coin price action hints at the bullish breakout of the rounding bottom pattern in the daily chart. However, the neckline near $4 remains a supply-rich area that will prove difficult to overcome. The crucial Exponential Moving averages maintain a bearish alignment as the 100-day EMA crosses below the 200-day EMA. Moreover, the 50-day EMA waits slightly above the $4 mark that can halt the post-breakout bull run. The MACD indicator shows a rise in the fast line as it gives a bullish crossover with the signal line below the zero mark. Moreover, the rising trend of bullish histograms indicates a growing uptrend. The R...