Tezos (XTZ) is currently trading around USD 1.17–1.18 (1.17 USDT), marking a strong recovery with ~56% gains over the past 24 hours and ~85% over the past week . The recovery follows a prolonged downtrend and sideways movement. Analysts, such as CryptoNuclear, note the formation of a falling wedge or descending triangle, signaling a potential bullish reversal—especially if price breaks above the apex with supportive volume . 🧮 Technical Indicators
1. Moving Averages:
TradingView’s Aggregated Ratings classify both short- and long-term MAs as “Strong Buy” .
Binance/Investing.com confirms MA5 to MA200 are firmly in buy territory .
2. Oscillators & Momentum:
RSI sits between 77–78, hinting at overbought territory; MACD, ADX, CCI, ROC, and Ultimate Oscillator all support bullish momentum .
Bitget shows 17 buy vs. 1 sell signals across MAs/oscillators—another strong buy signal .
3. Volatility & Pivot Points:
ATR is elevated, reflecting high volatility .
Classic pivot R1 lies around USD 1.18, making a successful breakout above this key level important .
🧭 Market Structure & Sentiment
Falling wedge and expanding wedge patterns suggest tightening volatility (Classic reversal setups) .Mixed community stances: some traders have initiated shorts with targets near USD 0.54–0.73, expecting a pullback before a rally .🎯 Key Levels to Watch
Support: USD 0.95–1.02 (MA20 pivot), USD 0.74–0.80 (short-term MA) .
Resistance: Pivot R1 ≈ USD 1.18–1.19; breakout above could target USD 1.25+.
A retest of broken structure (wedge/triangle) would offer an opportune long entry .
📰 Fundamental & On‑Chain Context
Tezos remains a PoS, on‑chain governance smart-contract platform with upcoming ecosystem activity, which could fuel upside .
Heavy gains often attract profit-taking; staying attuned to broader crypto macro trends is key.
✅ Summary & Strategies
Overall technical bias: Strong bullish with multiple indicators aligned.
Bull case: Breakout above USD 1.18 could propel Tezos toward USD 1.25–1.40, then test yearly range highs (~USD 1.90).
Risk scenario: RSI overbought + extended rally may cause a pullback to support zones (~USD 1.00–1.02 or USD 0.75–0.80).
Approach: Consider scaling in on dips (e.g., USD 1.0–1.1), place tight stops below key levels; monitor volume on breakout and macro sentiment.