<b><i>The XTZ coin price may soon outgrow the rounding bottom pattern in the daily chart and rise above the $4 mark to carry forward the bull run in action.</i></b>

<span style="font-weight: 400;">Tezos is an open-source platform that is said to be "secure, upgradable and built to last" -and claims that its smart contract language is able to provide the accuracy needed for high-value applications.</span>

<span style="font-weight: 400;">Let us move ahead to read about XTZ technical analysis.</span>
<h2><b>Past Performance of XTZ</b></h2>
<span style="font-weight: 400;">The XTZ coin price shows dramatic growth of more than 30% in the past week with the series of bullish candles reaching the $3.75 mark. The growth brings a V-shaped recovery for the token as the chart shows a downfall of 35% in the previous week. That is how the price action completes a rounding bottom pattern in the daily chart. </span>

<img src="https://s3.tradingview.com/snapshots/n/nSR8WOW4.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/nSR8WOW4/"><span style="font-weight: 400;">XTZ/USD Daily Chart</span></a>
<h2><b>XTZ Technical Analysis</b></h2>
<span style="font-weight: 400;">The <a href="https://www.cryptoknowmics.com/news/xtz-technical-analysis-tezos-coin-escapes-a-symmetrical-triangle-pattern-with-bullish-breakout/">XTZ</a> coin price action hints at the bullish breakout of the rounding bottom pattern in the daily chart. However, the neckline near $4 remains a supply-rich area that will prove difficult to overcome. </span>

<span style="font-weight: 400;">The crucial </span><b>Exponential Moving averages</b><span style="font-weight: 400;"> maintain a bearish alignment as the 100-day EMA crosses below the 200-day EMA. Moreover, the 50-day EMA waits slightly above the $4 mark that can halt the post-breakout bull run. </span>

<span style="font-weight: 400;">The </span><b>MACD indicator</b><span style="font-weight: 400;"> shows a rise in the fast line as it gives a bullish crossover with the signal line below the zero mark. Moreover, the rising trend of bullish histograms indicates a growing uptrend.</span>

<span style="font-weight: 400;">The </span><b>RSI indicator </b><span style="font-weight: 400;">shows a growth in the underlying bullishness as the slope spikes above the 14-day average and the 50% line. However, the slope goes sideways under saturation above the central line. </span>

<span style="font-weight: 400;">Therefore, the technical indicators reflect a jump in underlying bullishness and tease a bullish breakout of the rounding bottom. Hence, XTZ can shortly reach the $4.5 mark</span>
<h2><b>Upcoming Trend</b></h2>
<span style="font-weight: 400;">The XTZ technical analysis shows the coin price might soon give a bullish breakout of the rounding bottom pattern with the breakout of $4. However, the supply-rich area can be hard to overcome, therefore, traders must wait for the price action confirmation.</span>

<span style="font-weight: 400;">The breakout can find resistance near the 50-day EMA and the $4.5 mark above the $4 mark. However, the failure to rise can lead to a reversal to $3.5 and $3.</span>

At press time, the Sentiment Chart gives a "NEUTRAL" signal for the XTZ token.
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XTZ Technical Analysis: Uptrend Ready To Surpass $4

The XTZ Technical Analysis shows the coin price may soon outgrow the rounding bottom pattern in the daily chart and rise above the $4 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

XTZ Technical Analysis: Uptrend Ready To Surpass $4

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