RATE Group | BARR Fractal Sees Tezos Cryptocurrency 50% Higher; Fundamentals Agree
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BARR Fractal Sees Tezos Cryptocurrency 50% Higher; Fundamentals Agree

21 Apr BARR Fractal Sees Tezos Cryptocurrency 50% Higher; Fundamentals Agree

Posted at 14:18h in Cryptocurrency News by

  • 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.

The pattern is…

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