fxstreet.com 09 Feb, 2021 08:45 am

XTZ is only one bump away from all-time highs

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

A bullish pennant pattern on the 4-hour chart hints at a potential trend toward $4.XTZ/USD daily chart The 4-hour chart shows the formation of a bullish pennant pattern, which signifies a trend continuation.XTZ/USD 4-hour chart Looking at the other side of the picture Despite the bullish outlook, it is important to realize that the upswing to $4.A bullish pennant is formed by a rising flag pole followed by consolidation in a short-term triangle.

For instance, when the MACD line (blue) 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.

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