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Tezos price analysis: Bullish reversal pattern in play as XTZ/USD prices escalate towards the $3.45 level

Tezos price analysis

TL;DR Breakdown

  • Tezos price analysis shows a continued uptrend
  • Resistance for Tezos prices has been tested at the $3.43 level
  • XTZ prices have seen major support at $3.34
Tezos price analysis: Bullish reversal pattern in play as XTZ/USD prices escalate towards the $3.45 level 1
Cryptocurrencies prices heatmap, source: Coin360

Today Tezos price analysis shows a strong uptrend in XTZ/USD prices, as the Tezos Foundation announces its new grant program. Prices have risen from a low of $3.34 to a high of $3.43 and currently sit at $3.42. The overall trend for XTZ/USD is bullish, with a strong possibility for prices to continue moving higher. Tezos prices have tested the previous resistance at $3.43 and are now consolidating around this level. A breakout above this level could see prices move towards the $3.45 level, which is the next major resistance area.

Tezos prices have been trading in a bullish trend since the beginning of the year, with prices rising from a low of $1.32 to the current high of $3.43. The overall trend is still very much intact and there is a strong possibility that prices could continue moving higher in the short term. The next major resistance area for XTZ/USD prices is at the $3.45 level, which is where the 100-day moving average currently sits. A break above this level could see prices move towards the $3.50 level.

Tezos price movement in the last 24 hours: Bulls intervene to push prices higher

Tezos prices have been on a tear over the past 24 hours, rising from a low of $3.34 to a high of $3.43. Prices are currently trading at $3.42, which is just below the major resistance at $3.43. Tezos market capitalization is currently at 3 billion with a 24-hour trading volume of $73,222,919.87.Tezos overall price movement has seen a continuation of the bullish trend that has been in place since the opening of the daily trading session.

Tezos price analysis: Bullish reversal pattern in play as XTZ/USD prices escalate towards the $3.45 level 2
XTZ/USD 1-day price chart, source: TradingView

Tezos price analysis shows the bulls have come together to push prices higher after a period of consolidation. Further upside is anticipated as the MACD line is headed towards the zero line, an indication of a continued bullish trend. Prices are also trading well above the 200-day moving average, which is another indication of a continued uptrend. However, prices could face some selling pressure at the $3.45 level, which is where the 100-day moving average currently sits. The RSI indicator is currently at the 67 level, which shows that there is still some room for prices to move higher before becoming overbought.

Tezos price analysis on a 4-hours price: XTZ prices could potentially rally towards $3.45

The 4-hour price chart signals a continued uptrend in XTZ prices, as the MACD line is above the signal line and headed towards the zero line. Prices are trading well above the 200-day moving average, which is an indication of a strong bullish trend. The RSI indicator is currently at the 65 level, which shows that there is some room for prices to move higher before becoming overbought. Prices could potentially rally towards the $3.45 level in the short term.

Tezos price analysis: Bullish reversal pattern in play as XTZ/USD prices escalate towards the $3.45 level 3
XTZ/USD 4-hour price chart, source: TradingView

Tezos price analysis shows that the bulls are in control of the market and a continued uptrend is expected in the short term.XTZ/USD pair market volatility is increasing as the prices trade following a breakout above the $3.43 level. The market is expected to continue following an uptrend as the bulls push prices towards the next major resistance at $3.45.The Bollinger bands are stretching outwards as the upper band heads towards the $3.44 level and the lower band heads towards the $3.41 level. Prices are expected to continue trading in a volatile range as long as they remain within the Bollinger bands.

Tezos price analysis conclusion

Tezos price analysis for today reveals the market has the potential to rally towards the $3.45 level in the short term as the bulls maintain control of the market. Prices could face some selling pressure at this level, which is where the 100-day moving average currently sits. However, a break above this level could see prices move towards the $3.50 level.

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.
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joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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