- Tezos price analysis is bearish today.
- The strongest resistance is present at $5.1.
- The strongest support is present at $3.8.
The Tezos price analysis is bearish as the cryptocurrency has experienced a fluctuating trend in the past few days. Bears have engulfed the market, and the coin value fell from $4.2 on January 10, 2022, and capped at $4.06 on January 11, 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 $4.06, struggling just under the $4.1 mark.
XTZ/USD 4-hour price analysis: Market shows bullish potential
The Tezos price analysis revealed the market volatility to be following a dormant trend, making the XTZ/USD prices subject to change, also dormant until the volatility fluctuates in either direction. The upper band value of Bollinger’s band is available at $4.3, which serves as the strongest resistance for XTZ. The lower limit of the Bollinger’s band is present at $3.8, which serves as the strongest support for XTZ.
The XTZ/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. The trend has recently shifted from bullish to bearish as volatility declined and the bears seized the opportunity. The XTZ/USD price path appears to be moving upwards, signifying a trend shift soon.
The Relative Strength Index (RSI) score is 43, signifying that the cryptocurrency doesn’t fall to either extreme. The selling activity equals the buying activity. As a result, we can see the RSI score following a dormant, straight movement.
Tezos price analysis for 1-day: Market expands volatility
The Tezos price analysis for one day reveals the market volatility follows an increasing trend signifying that the price is prone to experience variable change as the volatility fluctuates more. The upper limit value of the Bollinger’s band is present at $5.1, which serves as the strongest resistance for XTZ. The lower limit value of the Bollinger’s band is available at $3.8, 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. Although the market shows bearish momentum, it shows bullish potential as well. The XTZ/USD price path appears to be moving downwards, which signifies that the market may soon undergo a breakout, resulting in a reverse trend.
The Relative Strength Index (RSI) score is 42, 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 buying activity slightly outweighing the selling activity.
Tezos Price Analysis Conclusion
Careful observations from the Tezos price analysis can deduce that the price level is still under bearish dominance. Still, a reverse trend is highly likely as the bulls 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 counter the bears to reclaim the market. Better days are coming for Tezos.
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