Tezos Price Analysis: XTZ Surging 8%, But Bearish Head and Shoulders Pattern Could End The Party?

On the daily chart, Tezos is almost completing a head-and-shoulders pattern, but the ongoing bullish action may invalidate the pattern. Although the bullish play would become more significant if the price can surpass the immediate resistance at the 19314 SAT level.

Zooming at the price chart, we can see that the trading volume is still despite the ongoing bullish sentiment. Should the trading volume continue to stay insignificantly, the price of XTZ is likely to roll back down to the red trend line.

Timeline of Tezos