Looking at our trend timeframe we see XTZ has been in an uptrend since late 2019. Stochastic RSI showing momentum is just now starting to shift in favor of the bulls. Price has been consolidated between $2.55 and $2.80. Yesterday's daily candle was a bullish engulfing at a support level and we should expect Tezos to make another run towards the upside.
Shifting over to our pattern timeframe we see XTZ has broken out of its minor downtrend and tested for support. The price has remained above our retested support, stochastic rsi showing momentum in favor of the bulls although we are short term sell-off. A 4hour close above $2.77 activates our trade, rejection from this level and expect our sell-off to continue towards $2.25
