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Tezos Price Analysis: XTZ/USD bullish for the next 24 hours

Ripple Price Analysis

TL;DR Breakdown

  • Tezos price analysis is bullish today.
  • The closest support level lies at $4.50
  • XTZ faces resistance at the $4.616 mark

The Tezos price analysis reveals that the bulls have established firm support at $4.50, allowing buyers to start a rise above $4.600. The market sentiment is bullish, suggesting an increase in the short term.

The Tezos price analysis suggests that the XTZ/USD pair is in a bullish trend, and it may soon test the $0.70 resistance level. The market sentiment is positive, as indicated by the MACD, which is in bullish territory. The RSI also points to increasing buying pressure, which confirms that the bulls control this market. Hence, traders can consider initiating long positions on a breakout above $0.616 with a stop loss below $0.50.

Across the technical indicators, the MACD is currently bearish, as expressed by the red color of the histogram.

The EMAs are crossed in a bullish manner, and the 12 EMA is above the 26 EMA. The RSI points to oversold conditions at 30. This could lead to a bounce-off 30 an uptrend continuation.

The RSI is currently neutral and oscillating above and below 50. This suggests a possible trend reversal soon

The Tezos price analysis reveals that bulls have established firm support at $4250, allowing buyers to start a rise above $4600. The market sentiment is bullish, suggesting an increase in the short term for this cryptocurrency pair.

The Tezos price analysis suggests that the XTZ/USDT pair is in a bullish trend, and it may soon test the Ƀ0.70 resistance level. The market sentiment is positive, as indicated by the MACD, which is in the bullish territory, while RSI also points to

XTZ/USD Four-hour price analysis chart: What to expect?

Tezos Price Analysis: XTZ/USD bullish for the next 24 hours 1
4-hour price chart by Tradingview

The Tezos price analysis shows that after finding strong support at the $4.500 level, the bulls were able to initiate a trend reversal and recovered the $4.600 mark at press time. The price action finds short-term resistance at $6.650, which might cause the bulls to stumble. However, the market sentiment is highly bullish, suggesting further upwards movements. 

Traders should anticipate the Tezos price forecast to rise towards $4.70 as the bulls take control of the market, according to present levels. The short-term technicals support this view, and while the mid-term technical analyses disagree, they have yet to react to recent market changes. The bullish sentiment implies an upward breakout from $5.00; nevertheless, buyers will need to withstand significant bearish pressure below $5.00 for this scenario to come true.

The Bollinger Bands are contracting, which indicates low volatility and a possible breakout. The Stochastic oscillator has crossed over from the oversold region and is now heading upwards, suggesting that bulls are in control of this market at the moment.

Tezos Price Analysis: Conclusion

The Tezos price analysis suggests that the XTZ/USD pair is in a bullish trend, and it may soon test the $0.70 resistance level. The market sentiment is positive, as indicated by the MACD, which is in bullish territory. At the same time, RSI also points to increasing buying pressure, which confirms that the bulls control this market. Hence, traders can consider initiating long positions on a breakout above $0.616 with a stop loss below $0.50.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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