$ 1,226.58 1.48%
$ 40.44 2.35%
$ 0.077112 12.13%
$ 4.86 6.04%
$ 21,353.00 0.44%
$ 239.42 0.12%

Tezos Price Analysis: XTZ rejects upside around $4.35, more retracement to follow?

Tezos Price analysis

TL;DR Breakdown

  • Tezos price analysis is bearish today.
  • XTZ/USD rejects upside at $4.35.
  • Closest support located around $4.

Tezos price analysis is bearish today as the upside has been rejected this morning after moving to $4.35 overnight. Therefore, XTZ/USD likely needs to retrace even more before the upside is tested again.

Tezos Price Analysis: XTZ rejects upside around $4.35, more retracement to follow? 1
Cryptocurrency heat map. Source: Coin360

The crypto market has seen bullish momentum return over the last 24 hours. The market leaders, Bitcoin and Ethereum, have gained 2.61 and 3.5 percent. Meanwhile, Tezos (XTZ) has gained over 4 percent.

Tezos price movement in the last 24 hours: Tezos rallies to $4.35

XTZ/USD traded in a range of $4.11 – $4.35, indicating a moderate amount of volatility over the last 24 hours. Trading volume has declined by 33.6 percent, totaling $102.8 million, while the total market cap trades around $3.76 billion, ranking the coin in 44th place overall.

XTZ/USD 4-hour chart: XTZ prepares to decline again?

On the 4-hour chart, we can see rejection for upside again today after slow push higher overnight.

Tezos Price Analysis: XTZ rejects upside around $4.35, more retracement to follow?
XTZ/USD 4-hour chart. Source: TradingView

Tezos price action has seen the end of the previous decline this week. After reaching $3,80 mark on the 10th of January, XTZ/USD reversed over the next 24 hours and finally broke higher.

Eventually, XTZ peaked at around $4.45 on Wednesday, setting a clear higher high. From there, the market retraced to $4.10, where a slight consolidation was formed yesterday.

Over the last 24 hours, Tezos price action moved higher again, potentially looking to break higher. However, selling pressure returned around $4.35 earlier today. Therefore, we expect XTZ/USD to retrace even more before further upside is tested.

Tezos Price Analysis: Conclusion 

Tezos price analysis is bearish as the upside has been rejected again earlier today around $4.35. Therefore, XTZ/USD needs to test more upside before more recovery is seen next week.

While waiting for Tezos to move further, see our articles on Coinbase Vault vs Wallet, Cardano price prediction, and crypto tax-loss harvesting.

Disclaimer. The information provided is not trading advice. 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.

Related News

Hot Stories

Ripple price analysis: XRP/USD set to break above $0.54 overnight
Could You Become A Millionaire By Adding These Cryptocurrencies To Your Portfolio - Polkadot (DOT), And Logarithmic Finance (LOG)
Shiba Inu price analysis: SHIB continues to rise with $0.00001350 in sight
Ethereum price analysis: ETH swiftly breaks $1,250, strong upside next week?
The Crypto Coins That Will Make a strong Impact In 2023: CashFi (CFI), Polkadot (DOT), and Huobi Token (HT)

Follow Us

Industry News

Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon