Tezos (XTZ) has recently undergone its 13th core protocol upgrade, Mumbai, which aims to boost its processing speed up to 1 million transactions per second. The upgrade hopes to make Tezos more secure, flexible, and developer-friendly, elements that traders could appreciate by buying a stake in the altcoin. Tezos price rallied on Wednesday with a near 10% gain intraday, indicating that investors and traders were awaiting the release of the Mumbai upgrade. However, too many technical hurdles were coming together on the top side for a substantial rally higher. XTZ could still see traders welcoming this upgrade as the procession speed kicks it higher.

The technical indicators of XTZ are favoring a consolidated move, though the asset price is currently trading between the 50 and 100 Daily Moving Average, and it can observe a negative crossover which can push the asset price to a new low. XTZ upside trend can see a halt near the value of $1.5, whereas the support of the asset price can be seen near $1. Expect with the positive newsflow that bulls will have bought at $1.10 and push price action through the 55-day and the 200-day Simple Moving Average (SMA), with a clean breakout trade potentially seeing $1.20 and next $1.40 on the topside for a staggering 25% gain.