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Tezos price analysis: XTZ/USD shows bullish potential at $4.3

XTZ

TL;DR Breakdown

  • Tezos price analysis is bearish for today.
  • The strongest support is available at $3.7.
  • The strongest resistance is present at $5.

The Tezos price analysis is bearish as the cryptocurrency has experienced severe devaluation in the past 48 hours. Bears have engulfed the market, and the coin value fell from $4.48 on January 6, 2022, and capped at $4.3 on January 8, 2022; bears continue to rule the market today, as well as a further decrease in price is imminent. The market has shown bullish potential with bearish dynamics. The price for XTZ is currently available at $4.3.

XTZ/USD 4-hour price analysis: Market trend shifts

The Tezos price analysis has revealed the market volatility to be following a downwards direction, making the XTZ/USD price less prone to undergo variable change. The upper band value of Bollinger’s band is available at $5.2, which serves as the strongest resistance for XTZ. The lower limit of the Bollinger’s band is present at $3.7, which serves as the strongest support for XTZ.

The XTZ/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. The trend has recently shifted to bullish due to the massive increment in volatility. The bears were dominating the market before but couldn’t maintain their control.

Tezos price analysis: XTZ/USD shows bullish potential at $4.3 1
XTZ/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) score is 42, signifying that the cryptocurrency doesn’t fall to either extreme. The selling activity outweighs the buying activity. As a result, we can see the RSI path following a declining movement.

Tezos price analysis for 1-day: XTZ/USD market shows bearish momentum

The Tezos price analysis for one 1 reveals the market volatility follows a quiet, dormant trend showing no signs of falling to either extreme. The upper limit value of the Bollinger’s band is present at $5.0, which serves as the strongest resistance for XTZ. The lower limit value of the Bollinger’s band is available at $4.0, which acts as the strongest support for XTZ.

The XTZ/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish movement. The market trend has been fluctuating daily, but the market has decided on bearish as of now. Although the market shows bearish momentum, it shows bullish potential as well. Time will tell what the market will settle for.

Tezos price analysis: XTZ/USD shows bullish potential at $4.3 2
XTZ/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) score is 44, showing a stable value falling neither undervalued nor overbought. The RSI path appears to be following a slight incline which may indicate future increment in the value of XTZ while moving towards stability. The RSI score appears to be increasing due to the strong buying activity.

Tezos Price Analysis Conclusion: Bulls take on bears

By observing the Tezos price analysis, we can deduce that the price level is still under bearish dominance, but a reverse trend is highly likely as the bears have recovered some of the losses in the past few days. Although the price remains in bearish dominion, there is hope that XTZ will soon recover as the bulls get ready to launch themselves at the bears and reclaim the market.

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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