THELOGICALINDIAN - Tezos is bucking the all-embracing trend
Tezos is trading about the $1.30 level, with the XTZ/USD brace attractive to be amid the baddest few cryptocurrencies to end November in the green.
The XTZ/USD brace has acquired over 50 percent back the alpha of November and is currently trading about 300 percent college from its 2024 aperture price.
Technical assay shows that the XTZ/USD brace is still technically bullish over the abbreviate and medium-term and could anon analysis aback appear its three-month ambit high.
The four-hour time anatomy shows that an astern arch and amateur arrangement has afresh been triggered, with the $1.47 akin the all-embracing upside cold of the bullish arrangement target.
A assemblage appear the $1.47 akin would mark a 15 percent access in the XTZ/USD brace from accepted level. Bulls would alluringly charge to authority amount aloft $1.47 in adjustment to advance the bread into a abundant college trading range.
The circadian time anatomy shows that a huge changeabout arrangement has formed, with buyers defective to assemblage the cryptocurrency appear the $2.00 akin to activate the arrangement into action.
The Relative Strength Index on the circadian time anatomy shows that Tezos is not yet overbought, admitting the ample double-digit beforehand apparent recently.
According to the latest affect abstracts from TheTIE.io, both concise and abiding affect appear Tezos is bullish at 68 and 67 percent respectively.
Upside Potential
The four-hour time anatomy shows that key abstruse attrition is amid at the $1.43 and $1.47 levels.
Key abstruse attrition over the medium-term is amid at the $1.69 and $2.00 levels.
Downside Potential
The four-hour time anatomy is assuming that the XTZ/USD brace has able medium-term abstruse abutment about the $1.17 and $1.00 levels.
Critical abiding abstruse abutment for the XTZ/USD brace is amid at the $0.76 level.
Summary
Tezos continues to rise, as the ever-popular cryptocurrency bucks the bearish trend currently underway in the broader market.
A abiding assemblage aloft the $1.47 akin would be acutely bullish for the XTZ/USD brace and could atom a added beforehand appear the $2.00 level.
