XTZ price shows a bullish breakout of the falling wedge pattern and prepares a bull run to surpass the $1.65 resistance level. Key technical points: XTZ prices have jumped by 5.47% in the last 24 hours. The rounding bottom pattern results in the breakout of the falling wedge pattern. The 24-hour trading volume of Tezos is $77 Million, indicating a rise of 52%. Past Performance of XTZ As mentioned in our previous analysis, the XTZ price surpasses the resistance trendline for the falling wedge pattern with a rounding bottom pattern. The bull run over the past week accounts for a price jump of 21%. Additionally, the rounding bottom pattern shows a neckline at the $1.65 mark, which the market value may shortly surpass. Source- Tradingview XTZ Technical Analysis The XTZ price action shows the breakout rally struggling to find the support of increased trading volume. Hence, traders can find the breakout rally struggling to sustain a high momentum uptrend, potentially leading to multiple retests along the way. The MACD indicator shows an uptrend in the fast and slow lines, ready to enter positive territory. Moreover, the bullish trend in the positive histograms reflects an increase in buying pressure. The RSI indicator shows a remarkable increase in the underlying bullishness as the slope maintains an uptrend with the support of the 14-day average line. Hence, the indicator shows a high likelihood of an uptrend continuing above the $...
