logo

Tezos price analysis: XTZ bulls fight bearish influence at $6.9

Tezos price analysis XTZ travels low as bears manage to escape bullish influence at

TL;DR Breakdown

  • The Tezos price analysis shows bullish trend is ruling the price charts.
  • Price has increased up to $5.7 today.
  • Support is eminently strong at $4.67.

The Tezos price analysis is indicating an improvement in price as the bulls are trying to make a comeback once again. The past week proved extremely discouraging for the market as the price reached its lowest points.

Yet, today the situation is on the opposite as the cryptocurrency is struggling to maintain its price above $5.6. But as the bullish momentum is growing, further improvement in price is highly possible in the approaching hours.

XTZ/USD 1-day price chart: Bulls play strategically as price now hitting the $5.7 mark

The one-day Tezos price analysis is going in the bullish direction again after a successive downtrend. The price has increased up to $5.71 today which can count as a huge accomplishment for the cryptocurrency.

Further advancement is to be expected as the bullish momentum is strengthening with each passing day. Other important indicators include the moving average (MA) which is settled at the $6.01 position for the day.

Tezos price analysis: XTZ bulls fight bearish influence at $6.9 1
XTZ/USD 1-day price chart. Source: TradingView

As the volatility has decreased in the last 24-hours, the Bollinger bands values have changed as well. Now, the upper value is placed at $7.63 while the lower value is found at $4.23. The Relative Strength Index (RSI) has gained advantage of the situation as well and has moved up towards 51 and has now flattened up.

Tezos price analysis: Bulls stand powerless as price stays under the $7 resistance

The 4-hours XTZ/USD price analysis is following the bearish trend as the price has downgraded again. The price levels are going down after dodging past a massive bullish feat that took place in the past few hours. Currently, the price is settled at the $6.94 mark, and is expected to go a bit up from here towards a better position, as Bollinger bands have narrowed down. The moving average is still quite low i.e. $5.36 because of the constant price fluctuations.

Tezos price analysis: XTZ bulls fight bearish influence at $6.9 2
XTZ/USD 4-hours price chart. Source: TradingView

The volatility is towards the decreasing side as the upper Bollinger band has adjusted itself at $5.96 and the lower Bollinger band at $4.67. The RSI score is going down as well because of the downtrend and has returned to 51.6.

Tezos price analysis: XTZ bulls fight bearish influence at $6.9 3
XTZ/USD technical indicators chart. Source: TradingView

The technical indicators chart for XTZ/USD is giving out a neutral signal as the number of buyers and sellers have been almost equal. The competition has been tough as there are nine indicators on both the neutral and buying positions, with eight on the selling one.

There have been bullish interferences as well where the price has covered upward movement. This is why the moving averages indicator is giving a buying signal, as there are eight indicators at the buying point, six at the selling and only one at the neutral point.

The Oscillators are also giving a neutral hint because of the eight oscillators that are settled under the neutral level. While two oscillators are fixed at the selling position and one at the buying one.

Tezos price analysis conclusion

Tezos infinity price analysis suggests the price is going high today as it has been able to cross the $6.6 level during the last 4 hours. The price has improved significantly if we compare it with the last week’s statistics. There are further chances of recovery for the bulls as the support is quite strong and is found to be at the $4.67 level.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

Related News

Hot Stories

Bitcoin technical indicators roundup. More panic?
Bitso plans expansion into Argentina with this new feature
ChainLink price analysis: LINK increases value by 8% after strong bullish influence
Everything you need to know about LUNC burn & Binance's role in it
Cardano price analysis: Bulls uplift ADA price levels to $0.463 after recovery

Follow Us

Industry News

Bitso plans expansion into Argentina with this new feature
Everything you need to know about LUNC burn & Binance's role in it
New orders to IRS: More crackdown on crypto traders?
How to stake Apecoin  in 2022
The fall of Metaverse and Virtual lands. Will it ever rise back?