The price of Tezos (XTZ) has more than doubled over the past week. The token is close to breaking the May all-time high of $8.42. Tezos is growing parabolically Tezos reached the all-time high (ATH) of $8.42 on May 7, 2021. The altcoin then experienced a 75% correction to a macro low at $2.10 on 20 July. After a three-month consolidation in May-August, the token broke out above the resistance area near $4 (green rectangle). It then reached the 0.618 Fib retracement of the entire downward movement and turned the $4 resistance into support on September 7. A day later, the price generated a hammer candle (blue arrow) to start a parabolic upward movement from 9 September. Over the past week, XTZ has doubled in price and is reaching $8 at the press time XTZ future movement The nearest target for XTZ price action is the ATH level at $8.42. However, even a daily close above the $7.58 area, which is the top of the body of the highest daily candle, would be a bullish signal. The next targets are determined using the external Fib retracement. After a possible breakthrough of the ATH, XTZ will target $10.14 and $11.04 levels at the 1.272 and 1.414 Fib retracement. If these are broken through, the next resistance levels are at $12.33 and $14.75, which correspond to the external retracement of 1.618 and 2 Fib. Let's keep pumping the market guys Guys Stay Bullish, Stay Humble, Stay Put #xtz #tezosnews #tezosnft #tezosmarkets #tezos #tezosxtz #tezoscoin #tezosfoundation #tezoswallet #tezosblockchain #tezoscryptocurrency https://www.instagram.com/p/CT0F6nQMTVn/?utm_medium=tumblr
