- Tezos price analysis is bullish today.
- XTZ/USD is currently trading at $8.2.
- XTZ is moving towards $10.
Today’s Tezos price analysis is upbeat, as bulls pushed the market higher once again today after a consolidation of around $6.70 overnight. As a result, we anticipate XTZ/USD to rise further in the next 24 hours and aim for the $7.50 resistance level next.
Tezos Price Analysis – The daily chart above shows that Tezos price analysis is bullish as XTZ/USD finds support at the short-term .61 Fibonacci Retracement level priced at $6.89, which has provided a strong platform for traders to sell into throughout this week and will likely continue to do so over the next few days. This area of interest extends down until it reaches a long-term downside extension point marked by a bearish horizontal level located around $7.00.
According to the technical charts, if XTZ/USD breaks through resistance at $7.0, we may expect more rises toward resistance at last week’s high near $8.0, where there are additional opportunities in both directions before the market reaches the next major barrier level at $9.0.
Tezos price analysis is bullish today as bulls continue to push the market higher this morning after a consolidation around $6.8 overnight. Therefore, we assume XTZ/USD will continue higher over the next 24 hours targeting the .618 Fibonacci Retracement level priced at $70.00.
Tezos price movement in the last 24 hours: Tezos spikes above $7
The Bollinger Band on the daily chart for XTZ/USD shows that after a period of consolidation, last week’s bullish momentum has carried over and given way to another substantial price increase. The market is currently trading above the upper and lower bands, which suggests we will continue towards $7.0, where traders should expect resistance in this region. Tezos Price Analysis – The technical indicators within the market are currently favoring buyers at this moment in time as XTZ/USD continues its path higher following yesterday’s bullish price action movement.
The RSI (relative strength indicator) is positioned well into positive territory at 71 while maintaining an upward trajectory along with the MACD, indicating there may be more room left for buying pressure before any form of correction occurs.
Tezos price analysis is bullish today after it spiked above$7.00 and has maintained a strong level of support around this area, which will likely attract fresh buying pressure in the next 24 hours as bulls aim for more upward momentum before any retracements take place.
Daily chart’s Bollinger bands show that Tezostays within its range between the upper and lower band, suggesting no trend exists at the moment while RSI (relative strength indicator) is trending higher than 30 with MACD on histogram supporting further upside movement within the market. We expect XTZ/USD to continue toward $75, where we can find additional areas of expected resistance until it reaches $8.5 or even near $9.0 if buyers remain in control of the market.
XTZ/USD 4-hour chart: XTZ targets $7.50 next?
On the daily chart, we can observe Tezos price rapidly rising over the past several hours, suggesting that we might witness a test of the $7.50 previous swing high today on the 4-hour chart.
XTZ/USD 4-hour chart. Source: TradingView
Technical indicators favor buyers for Tezos at this moment in time with no sign of slowing momentum yet indicated by RSI (relative strength indicator) currently trading well above 70 while maintaining an upward trajectory and the MACD showing a strong buying signal in the market. Suppose XTZ/USD can break through $7.2. In that case, we expect to see further resistances around $7.5 and $8.0 until it reaches near major resistance located at last week’s high marked by a bearish horizontal level priced at about $90, which will require significant momentum to overcome this area.
Tezos price analysis is bullish after XTZ/USD spiked above resistance at $7.00 then continued to climb higher as the value increased by 15%. The most important point to glean from this chart is that the investors who have been looking for a way to buy Tezos on dips are now entering into support at $7.2, and if bulls continue in this momentum, they will most certainly reach toward the short-term .82 Fibonacci Retracement level around $7.5 which represents a solid psychological price point due to its proximity with last weeks high.
Tezos Price Analysis: Conclusion
The price of Tezos has been changing rapidly in the last 24 hours, and it is now trading at highs. The bulls have continued to push higher following a consolidation of around $6.70 throughout the day. As a result, we expect XTZ/USD to rise even further and attempt to breach $7.50 by the end of the day.
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