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Tezos price analysis: XTZ shies away from $5.2

XTZ

TL;DR Breakdown

  • Tezos price analysis appears to be bullish.
  • The strongest resistance is present at $5.03.
  • The strongest support is present at $4.48.

The Tezos price analysis appears to be following a somewhat bullish trend. On December 27, 2021, the price of XTZ experienced a colossal rise which resulted in the price going from $4.9 to $5.16; after this, it started to fluctuate between $5 and $5.1. On December 28, 2021, the price experienced a flash crash which brought the price down to $4.8 before gradually declining again to $4.7, which is the current price of XTZ/USD.

XTZ/USD 4-hour price analysis: Tezos suffers devaluation

The Tezos price analysis reveals the market’s volatility seems to be following a somewhat declining trend, which means that the cryptocurrency is less likely to undergo variable change on either extreme. The upper limit of the Bollinger’s band is present at $5.09, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $4.4, which serves as the strongest support.

The XTZ/USD price appears to be crossing under the curve of the Moving Average, which indicates a bearish movement. Observing the XTZ/USD price path, we can deduce that the cryptocurrency has been experiencing fluctuating trends in the past few days.

Tezos price analysis: XTZ shies away from $5.2 1
XTZ/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 48, which shows a relatively stable value for the XTZ cryptocurrency. However, the RSI can be seen following a downwards trend, indicating future devaluation. It seems that the bears have taken control of the market; if they maintain this control, the cryptocurrency is sure to be further devalued.

Tezos price analysis for 1-day: XTZ fluctuates between bullish and bearish

The Tezos price analysis indicates that the market’s volatility appears to be following a declining trend, which makes the XTZ price less prone to change. The upper limit of the Bollinger’s band is present at $5.03, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $3.9, which represents the strongest support.

The XTZ/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish trend. The market trend is significantly fluctuating between bullish and bearish. The chart shows many shifts between movements with small intervals to time.

Tezos price analysis: XTZ shies away from $5.2 2
XTZ/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is 50, which shows no sign. The cryptocurrency falls under neither the overbought category nor the undervalued category. However, careful observations reveal that the RSI moves downwards, indicating future devaluation. Still, since the market trend keeps shifting between bullish and bearish, it increases the unpredictability and makes it impossible to analyze.

Tezos Price Analysis Conclusion: $5.2 a long shot for XTZ

The conclusion of the Tezos price analysis shows that the recognition made in the current behavior of the cryptocurrency indicates that it is following a rocky upward trend with the possibility of going downhill very soon. XTZ/USD climbed with fatigue at the $5.2 mark; the price reached $5.15 on December 27, 2021.

Chart analysis shows bullish dynamics with possibilities of turning bearish soon. It is predicted that XTZ may quickly enter the $5.2 mark range, but this depends on the volatility of the support; if current support fluctuates, and according to the data shown by the charts, it is very likely, we could see a drop in prices up to $4.0.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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