As Tezos [XTZ] pushes past $1.66, bulls can consider these levels to book a profit

and Tezos registered gains of around 25% in July. This highlighted two things. One was the fairly positive correlation between Bitcoin and most of the larger altcoins in the market. The second was a possible lack of conviction among XTZ bulls. In a month when

Two levels of resistance at $1.92 and $2.15 were highlighted on the chart, and it was likely these levels would offer stubborn opposition to XTZ bulls. The Relative Strength Index has oscillated from 45 to 65 throughout July. At the time of writing, the RSI was at 62 and above neutral 50 to suggest an upward trend in progress.The drop from $2.36 to 1.195 in June was used to draw a set of Fibonacci retracement levels . The 38.2% level lay at $1.64, close to the horizontal $1.

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Source: CryptoAmb - 🏆 22. / 68 Read more »