XTZ Technical Analysis: Reversal Challenges $3 Barrier

XTZ prices show a V-shaped reversal from the Psychological mark of $2.50, challenging the $3 spot. Will buyers surpass the bearish milestone? Key technical points: XTZ market price has grown 15% in the last 48 hours. The reversal starts with a morning star pattern. The 24-hour trading volume of Tezos is $120 Million, reflecting a rise of 120%. Past Performance of XTZ XTZ prices show a bullish recovery after a downfall of 38% last month to retest the $3 resistance zone. The reversal comes after the second retest of the broken resistance trendline and the increased buying pressure near the psychological support of $2.50. Starting from the $2.50 mark, the morning star pattern accounts for a jump of 15% within the last 48 hours. Source-Tradingview XTZ Technical Analysis XTZ prices challenge the $3 resistance zone with an increase in trading volume, projecting the bullish commitment behind the rally. However, traders must wait for a bullish closing to avoid trapping under the retest. The bullish reversal reaches the midline of the Bollinger bands after a reversal from the support band. Hence, the midline breakout opportunity will signal a buying spot to bullish-intentioned traders. The MACD and signal lines give a bullish crossover in the negative territory, project the start of positive histograms and represent a bull cycle. The RSI values skyrocket from the oversold boundary to surpass the 14-day average score and reach the halfw...