XTZ ready for a breakout to test previous highs

Jul 9, 2020

The Orange Line has been a strong support and resistance line so far in 2020. Yesterday's close broke above the resistance line and we retest it again now. Holding a close above the line should allow us to move towards the next resistance around $3.16 and if that breaks, then to test the previous highs around $3.6-$4. There is room in the RSI on the daily for a run up as we now break the resistance line in bullish territory but not overbought. Look for a big parabolic run in the next week.