Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

• Tezos cracked a key long-term trendline resistance. 
• Tezos’ volume was up +900% at press time. 

Tezos [XTZ] fronted a surprise pump on 10 October, rallying +10% in less than 24 hours before press time. The bullish momentum cracked a crucial long-term trendline resistance. But the rally encountered another hurdle at $0.700. 

Read Tezos [XTZ] Price Prediction 2023-24 

At the time of writing, Bitcoin [BTC] defended $27k and aimed at $28k with an established resistance level of $28.5k. As such, XTZ could attempt to extend the rally, but these hurdles could derail bulls. 

Can Tezos bulls crack these hurdles?

There was slight bullish exhaustion at press time, as shown by the upper daily candlestick wick at the roadblock of $0.700. The roadblock is a previously invalidated daily bullish order block of $0.716 – $0.744 (red) formed on 18 June 2023. 

The above level was flipped to a resistance zone in mid-August. However, bulls were yet to crack flip to support despite overcoming a long-term trendline resistance level at press time. So, the bullish exhaustion seen at press time could complicate further rally above the $0.70 roadblock. 

But late bulls can re-enter at the confluence of the previous support and the long-term trendline resistance at $0.680 or $0.650, targeting the overhead $0.7 roadblock. 

Conversely, a convincing daily candlestick close above the $

Go to Source to See Full Article
Author: Benjamin Njiri

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details