Tezos/Tether (XTZUSDT) Market Overview

• Price surged from $0.65 to $0.75 amid strong volume spikes.
• Momentum picked up with a positive RSI and bullish MACD crossover.
• Volatility expanded as price tested upper Bollinger Bands.
• Turnover confirmed buying pressure in early trading hours.
• Key resistance appears at $0.72, with support around $0.69.

Tezos/Tether (XTZUSDT) opened at $0.65 at 12:00 ET – 1, reached a high of $0.75, and closed at $0.69 at 12:00 ET, with a 24-hour volume of 25,727,169.8 and a total turnover of $17,438,664.78. The pair exhibited strong buying pressure early, followed by consolidation and bearish retracement in late hours.

Structure & Formations

Price displayed a bullish breakout above key psychological resistance at $0.70 early in the session, with a strong close near $0.72. A hammer pattern formed at $0.72, suggesting potential support. Later, a bearish harami emerged as price pulled back into the $0.69–$0.71 range, indicating indecision. A doji near $0.70 in the afternoon highlights a potential reversal or consolidation point.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period line in early trading, reinforcing the bullish bias. On the daily timeframe, the 50-day MA crossed the 100-day line, aligning with a longer-term bullish trend. The 200-day MA remains below current levels, indicating the uptrend is still intact.

MACD & RSI

The MACD crossed into positive territory at 04:00 ET, confirming the bullish momentum. RSI reached overbought levels at 65, peaking near 70, suggesting a possible short-term pullback. However, RSI remained elevated throughout the session, signaling sustained buying interest.

Bollinger Bands

Volatility expanded as price tested the upper band in early hours, breaking above the $0.72 level. Price then retracted to the middle band, settling near the 20-period MA. The Bollinger squeeze in early morning candles was followed by a sharp expansion, suggesting a continuation of trend.

Volume & Turnover

Volume spiked to over 1.15 million at $0.71, confirming the breakout. A second volume increase occurred as price retested resistance at $0.72, indicating strong conviction from buyers. Turnover aligned with volume, peaking at $7.2 million, suggesting a well-funded push higher. A divergence emerged in late trading as volume declined while price remained in range, hinting at weakening momentum.

Fibonacci Retracements

The $0.69 level coincides with the 38.2% Fibonacci retracement of the prior $0.65–$0.75 move, acting as a strong support. Price retested the 61.8% level at $0.71 before pulling back, suggesting this area could be a potential resistance or support on a retest.

Backtest Hypothesis

Based on the observed breakout dynamics and resistance levels, a viable backtest strategy could involve using the daily pivot R1 as a resistance target. An event could be defined as when the closing price surpasses R1, with a holding period of 10 days or until a 10% stop-loss or 20% take-profit is hit. The 15-minute timeframe is appropriate for capturing quick, high-volume breakouts. This approach would leverage the current bullish momentum and validate whether key levels like $0.72 can act as consistent triggers for trend-following entries.