🔍 Analysis of $XTZ – Is Tezos preparing for a strong breakout soon?
Amid the ongoing volatility in the crypto market, Tezos (XTZ) stands out as one of the promising projects thanks to its unique technical architecture and its approach to self-governance, along with strong partnerships with global institutions. With the price stabilizing within a narrow range, investors are asking: Is it time for a new breakout for $XTZ?
$XTZ is the native currency of the Tezos network, which is characterized by its ability to upgrade without the need for a 'Hard Fork', making it a flexible platform suitable for decentralized applications and institutional finance.
📊 Charting Tool (Candlestick Chart):
Take a look at the recent price movement via TradingView#
🚀 Quick Technical Analysis:
Nearby Resistance: 0.60 $
Closest Support: 0.54 $
The price is currently moving within a narrow sideways channel between 0.54 $ and 0.60 $. Breaking the resistance at 0.60 $ may push the price towards 0.64 $ as the first target, and possibly towards 0.70 $ if the upward momentum continues.
💼 Actual Trade on $XTZ:
Entry: 0.56 $
First Target: 0.64 $
Second Target (Optional): 0.70 $
Stop Loss: 0.53 $
📈 My Strategy:
I rely on the swing trading style using classic technical patterns such as 'Breakout' of horizontal channels, and I use RSI and MACD indicators to confirm the movement.
Currently, I am closely monitoring the breakout of the 0.60–0.61 $ area, and if the upward trend is confirmed, I will enter a reinforcement trade aiming for 0.70 $ in the short term.
🛡️ Why $XTZ?
✅ Unique Self-Governance: Tezos updates itself without a 'fork' thanks to the internal voting protocol
✅ Strong Institutional Partnerships: Collaboration with Google Cloud, Ubisoft, Red Bull Racing, Société Générale
✅ Sustainable Environment: Based on the Proof of Stake (PoS) mechanism
🔔 Do you think $XTZ will surpass 0.70 $ this month?