Tezos [XTZ] bulls reclaim $0.7, but should traders expect a pullback now?

Key Points

1. Tezos (XTZ) gained 8.2% in the past 24 hours and 40% since its bullish structure break on July 9th.

2. The $0.7 resistance zone, a key level since March, has been breached, suggesting a bullish outlook.

3. The RSI on the 1-day chart is at 84, indicating potential for a pullback.

4. Buying pressure (OBV) has increased recently, making a retracement to $0.7-$0.75 a possible buying opportunity.

5. The derivatives market may be driving the current price movement, which could lead to volatility.