• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

BARR Fractal Sees Tezos Cryptocurrency 50% Higher; Fundamentals Agree

Yashu Gola by Yashu Gola
9 months ago
in Cryptocurrency news, Technical analysis
Reading Time: 2min read
xtz, tezos, xtzusd, cryptocurrency

BARR Fractal Sees Tezos Cryptocurrency 50% Higher; Fundamentals Agree

Advertisement
Listen to Article
  • Tezos’ native cryptocurrency XTZ confirms forming Inverse BARR, a bullish reversal indicator.
  • The XTZ/USD pair is waiting to close above a crucial technical resistance while setting its upside target 50 percent higher.
  • Promising utility growth confirms a bullish scenario in the Tezos market.

XTZ, the native token of multi-purpose blockchain Tezos, could surge by 50 percent in the second quarter, according to a textbook bullish indicator.

xtz, tezos, xtzusd, cryptocurrency
XTZ/USD validates inverse BARR formation | Source: TradingView.com

The ninth-largest cryptocurrency painted an inverse Bump and Run Reversal indicator, or BARR, a pattern that indicates the reversal of a bearish trend. Initially, XTZ in February fell at a gradual rate but later bumped excessively, crashing by almost 71 percent.

Between March and April 2020, the cryptocurrency recovered by circa 104 percent in a so-called Rollover Phase. That allowed it to break above descending trendline resistance, thus forming an inverse BARR pattern.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The pattern is mostly about locating and trading the point of reversal. Therefore, traders who identified the bottom in mid-March were able to squeeze out an attractive profit. Nevertheless, the Tezos price has more room to grow as long as it can break above a crucial technical resistance.

Tezos Resistance Range

With BARR in play, XTZ needs to break the redded area shown in the chart above to aim higher upside targets.

The range falls between $2.37 and $2.47; it has historically served as support to Tezos’ downtrend in February-March 2020. Once broken to the upside, the XTZ/USD pair can treat BARR’s “Rollover and Run” trendline as its ascending support while targeting $3.26 as its primary bull target.

inverted Bump and Run Reversal, BARR
Inverse BARR example | Source: Trader Mentality

On the flip side, the price could fail to break above the resistance range and fall below the support trendline. The hesitation could prompt XTZ to retest the Descending Trendline Resistance. An extended action to the downside could even have the cryptocurrency bump into the Bump trendline – a scary outlook.

But Fundamentals are Supporting XTZ Bulls

XTZ is by far one of the 2020s most profitable assets in the cryptocurrency market, now sitting atop 60 percent year-to-date gains. The token’s uptrend picked momentum particularly in April after a string of developments for the Tezos blockchain promised an adoption boom.

Lately, digital transfer agent platform Vertalo and trading system tZero teamed up to tokenize real estate properties worth $300 million on the Tezos blockchain. Also, Ethereum developer framework Truffle announced that it is adding support for Tezos, effectively allowing its users to develop and deploy smart apps on its blockchain.

It is critical that Tezos’ network grows alongside XTZ’s prices. All and all, the cryptocurrency’s fundamentals and technicals are combinedly hinting a bull run ahead.

Photo by Hu Chen on Unsplash

Tags: cryptocurrencytezosXTZxtzusd
TweetShare29
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

bitcoin dangerous triangle pattern

A Dangerous Technical Pattern In Bitcoin Is Back, And It Is Breaking Down

2 hours ago
Bitcoin

Here’s Why Coinbase Whales Contributed to Bitcoin’s Sub-$30,000 Plunge

2 hours ago
Ethereum

Ethereum is Showing “Exceptional Signs of Strength” as Bulls Defend Crucial Level

6 hours ago
Saylor: Institutional Interest in Bitcoin is Bigger Than You Think

Saylor: Institutional Interest in Bitcoin is Bigger Than You Think

9 hours ago
3 Things Bitcoin Traders Should Watch in FOMC’s First Meeting of 2021

3 Things Bitcoin Traders Should Watch in FOMC’s First Meeting of 2021

11 hours ago
Ripple (XRP)

Charted: Ripple (XRP) Testing Crucial Support, Why It Could Nosedive

14 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

FEB Inc. Announces a New Service, Cost-Effective PR Media Packages for East Asian Markets

January 27, 2021

Hodlnaut Partners with Crowe Singapore to Perform Independent Verification of US$106 Million of CryptoAssets

January 27, 2021

Helio Lending Pivots into Becoming a CeFi Aggregator

January 27, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.