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HomeNewsXTZ Price Analysis: Tezos Rally Progresses, Surpassing $1.7500 as Foundation Explore Lawsuits...

XTZ Price Analysis: Tezos Rally Progresses, Surpassing $1.7500 as Foundation Explore Lawsuits Resolution

*XTZ/USD short-term recovery moves in line with other top 20 currencies
*Tezos rally progresses, surpassing the 1.7500 level
*The Tezos Foundation announced the decision to explore all pending lawsuits

XTZ/USD Daily Chart: Ranging

Besides, this region acted as the lower boundary of the previous consolidation route. The $1.8500 level is followed by the $2.000 level of resistance. On the downside, a sustained fall under the $1.6288 level intraday low may accelerate downside pressure and drive the price toward the crucial $1.4500 and $1.2000 level.

Actively Tezos is in a complete consolidation phase. The price kept highs higher but it also kept highs lower and this means it converges to an endpoint of the triangle pattern shown in the above chart. As of the present, the price is still looking pretty bullish for the last three 4-hour candles.

Image Credit: Shutterstock

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