Tezos risks correction below record high with XTZ rallying 250% since July By Cointelegraph

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Tezos risks correction below record high with XTZ rallying 250% since July

A recent price boom in the Tezos () market risks exhaustion as it triggers a classic bearish pattern.

Dubbed as the “ascending broadening wedge,” the pattern develops when the price oscillates between two upward but diverging trendlines. According to its creator Thomas Bulkowski, these wedges tell less about buying exhaustion and more about sellers’ ambition to take control, i.e., buyers tend to lose dominance every time the price touches the upper trendline.

daily price chart featuring the ascending broadening wedge. Source: TradingView.com
XTZ/USD’s wedge target. Source: TradingView.com
Doja Cat NFTs. Source: OneOf