Looking at our trend timeframe we can see Tezos remains respecting its uptrend, with no major signs of reversal. Stochastic RSI showing bears and bulls are fighting for control of the momentum. Price action has been consolidating between $2.60 $2.80 for the last 9 weeks. A breakout or breakdown is due, a look at our smaller timeframes will give us a better picture.
Shifting over to our pattern timeframe we can see Tezos respecting our bullish channel. The price has bounced off our dynamic support at $2.60 and is expected to return to our previous higher high at $3.04. A daily close above the daily resistance at $2.70 is a good sign we continue to the upside. Rejection from this level and expect the price to sell-off to $2.25.
