Tezos News Today – Headlines for April 7

  • Tezos price sees positive rally after a 10% increase
  • XTZ could rally 40% in the coming days
  • Tezos remained bullish after the recent breakout

Tezos News Today – the digital asset market posted a notable rally on the day. This rally was led by the surge of Bitcoin. The largest digital asset moved past the heavy resistance of $7,000. This move allowed other digital coins like Tezos to record some momentum. The latest figures show that the XTZ token significantly outperformed BTC. Such momentum enjoyed by Tezos might just be a hint of what is coming for the entire market.

This position is shared by analysts who have noted that the coin broke above an important horizontal resistance point that might give it some room to rise further. The digital asset also managed to break out of the last bullish technical pattern is established. Now, top analysts are claiming Tezos’ next uptrend could be an intense one.

Tezos Explodes by 10% After Bullish Formation

At press time, Tezos is trading at $1.86. The coin gained 11% on the day. This marked a massive climb for Tezos to $1.65 which was set yesterday. The coin was caught in an extended period of sideways trading. In today’s rally, the XTZ price has outperformed Bitcoin by 4%. This is the common pattern for most major digital assets on the day. It will appear that the bullish crypto is moving above the upper boundary via the ascending triangle.

One popular crypto analyst pointed out his view on this pattern via Twitter in a recent chart. The analyst noted that the upper area of this pattern sits at $1.81. This means that the coin’s latest upward movement marked a fresh firm break over this level. Against the USD, Tezos will peak above the resistance of an ascending triangle.

XTZ Could Rally by 40% After it Broke an Important Resistance

As for Tezos’ next destination, one analyst has pointed out that Tezos will reach roughly $2.00. It is at this point that the coin’s near-term resistance sits. When Tezos manages to surmount this position, it will be clear skies until the coin reaches $2.60. This move could see the start of a 40% rise from Tezos’ current price level.

Another well-respected analyst known as Loma spoke about the levels in a tweet. The analyst stated that he will trade the two resistance zones. Tezos’ momentum might stay dependent on Bitcoin’s momentum to an extent, but let’s assume that BTC manages to move higher or stay stable in the coming days. There is a chance that the XTZ token will post an extension via this upward action.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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