Tezos (XTZ), occupying the thirteenth position in the market capitalization ranking, continues to progress and maintains its historical upward trend, with bulls resolutely scaring the bears’ intentions to lower the price.
Today, its price is 2.61 USDT, a product of a weekly increase of more than 20%, and that involves the bearish intention of the previous 3 weeks.
The increase we are witnessing has clearly shown that the short-term trend has turned bullish. But the question is, can you stay longer? This is what we will answer next.
After a nearly month-long slump, buyers were back in control, this time with powerful force.
The entry of purchases took place in a relevant demand area, which had left the price in early May.
Right there, the 8-week EMA and the 18-week SMA moving higher, waited for XTZ. With the closing of the candle today, the upward trend in the medium term is reaffirmed. As long as the price remains above 2.28 USDT, this address will remain intact.
According to the weekly chart, the next relevant barrier is at 2.88 USDT, if Tezos crosses it, the next hurdle is at 3.52 USDT. The odds are currently in favor of this scenario.