Hello fellow traders and enthusiasts! Let's take a look at the XNO/USDT weekly chart, which is showing some compelling movements that warrant our attention.

Current Price: $1.229
Weekly Change: +32.68%

After a period of consolidation and a deep correction, XNO has printed a powerful green candle this week, breaking above critical resistance levels.

Key Observations from the 1W Chart:

Decisive Breakout: The current weekly candle has surged past all three major moving averages:

MA(7) (Short-Term): $0.860

MA(25) (Medium-Term): $0.900

MA(99) (Long-Term): $1.068

This is a strong indication of a potential shift from a long-term bearish or sideways trend to a significant bullish momentum.

Strong Recovery from Lows: We've seen an impressive bounce from the recent low around $0.153, highlighting strong demand at those levels. This shows significant buying pressure entering the market.

Testing Immediate Resistance: The price is currently testing an immediate resistance zone around the $1.20-$1.30 mark. A clear close above this level on the weekly timeframe would further confirm bullish continuation.

What Does This Mean?

The technical picture for XNO on the weekly chart looks very promising. Breaking above the long-term MA(99) is a particularly strong signal, suggesting that XNO could be entering a new accumulation or uptrend phase. Traders should watch for confirmation of this breakout and potential retests of these broken resistance levels as new support.

Next Key Levels to Watch: If the bullish momentum continues, the next major resistance levels to monitor would be the previous peaks around $1.70 and then $2.00+.

Disclaimer: This is not financial advice. Cryptocurrency markets are highly volatile. Always do your own research (DYOR) and manage your risks responsibly.