Tezos (XTZ) To Rise Further? Key Harmonic Pattern Signals Potential Upside Move

Date: Mon, May 12, 2025 | 04:50 PM GMTThe cryptocurrency market continues to build on its recent strength, with Bitcoin (BTC) and Ethereum (ETH) leading the charge. BTC has crossed the $103,000 mark, while ETH has surged more than 51% over the past 30 days, now trading at $2,500 — its highest level in several months. This broader bullish momentum is also spilling over into altcoins, including Tezos (XTZ).XTZ is currently showing impressive monthly gains of over 23%, with its price hovering around $0.67. More importantly, a well-known harmonic pattern forming on its chart suggests that further upside may be on the horizon.Tezos (XTZ) Daily Chart/Coinsprobe (Source: Tradingview)Harmonic Pattern Signals More UpsideOn the daily timeframe, XTZ is forming a Bearish Crab harmonic pattern — a technical setup that helps identify high-probability reversal zones when the final leg, known as CD, completes. Until that point, however, the price typically trends higher with strong momentum.The pattern began after XTZ was rejected at around $0.744 on March 26, which marks point X. From there, the price declined nearly 34%, finding a local bottom at approximately $0.485 on April 20, designated as point A.Tezos (XTZ) Daily Chart/Coinsprobe (Source: Tradingview)The next leg, AB, retraced about 37.8% of the XA move, confirming the early stages of the harmonic structure. This was followed by a 71.7% retracement in the BC leg, where the price found firm support around $0.513. That bounce has now fueled the current upward trend forming the CD leg.If the pattern plays out as expected, point D is projected to form near $0.91. This aligns with the 1.618 Fibonacci extension of the XA leg — a key area that often acts as a magnet for price action and a potential resistance level where trend reversals or corrections may begin.What’s Next for XTZ?With the price currently trading at around $0.68, XTZ still has room to run. A move toward $0.91 would represent roughly a 33% upside from current levels, making it an important zone for traders and investors to watch.The chart also shows strong underlying support at the 0.382 Fibonacci retracement level of $0.586, suggesting any pullbacks could be short-lived if the broader market stays bullish. In the near term, the $0.69 level may pose some resistance, but breaking through it could accelerate the move toward the harmonic target.Overall, Tezos appears to be in a strong technical position, backed by momentum and a reliable harmonic structure. However, if the price reaches the D point near $0.91, traders should watch for signs of a pause or reversal, as this area could trigger selling pressure and profit-taking.Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.