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Tezos price analysis: XTZ prices stumble at $3.11 as correction continues

Tezos price analysis

TL;DR Breakdown

  • Tezos price analysis shows a bullish trend
  • Support for Tezos prices is present at the $3.01 mark
  • Tezos prices have seen resistance at $3.20
Tezos price analysis: XTZ prices stumble at $3.11 as correction continues 1
Cryptocurrencies prices heatmap, source: Coin360

The Tezos price analysis for today indicates a positive market sentiment. The prices have increased by 0.78 percent, currently trading at $3.11.XTZ prices have been facing strong resistance at the $3.20 level since yesterday. However, the bulls seem to be in control as they have managed to push prices higher today. The bears however seem to be trying to push prices lower as the 4-hour MACD shows a slight bearish crossover.

The Tezos price analysis for today shows a market that is currently in a state of correction. Prices have been on a downtrend over the past few days, but the bulls seem to be trying to take control as prices have increased today. The market has found some support at the $3.01 level, but with prices currently trading below this level, it is possible that prices may fall further in the near term.

Tezos price movement in the last 24 hours: Bulls and bears battle for control

The Tezos price analysis for the past 24 hours shows the market has been highly volatile. Prices have fluctuated between a high of $3.20 and a low of $3.01. The market currently seems to be in a state of correction as prices have been falling over the past few days. However, the bulls seem to be trying to take control as prices have increased today. The trading volume for Tezos prices is currently at $605 million, which is lower than the daily average of $715 million. The RSI for the XTZ/USD pair is currently at 46.35, which is in the neutral zone. This indicates that the market is currently neither overbought nor oversold.

Tezos price analysis: XTZ prices stumble at $3.11 as correction continues 2
XTZ/USD 1-day price chart, source: TradingView

The prices have been trading near the 50 -day moving average for the past few days, but today’s price action has seen prices move below this level. This may be an indication that the market is heading for further downside in the near term. The next level of support for Tezos prices is at $2.85.The Bollinger bands are currently in a state of expansion, which is an indication of increased volatility in the market. Moreover, the MACD line is headed towards the signal line, which is a bearish sign.

Tezos price action on a 4-hour price chart: Bulls seem to be taking control

The XTZ/USD pair on a 4-hour timeframe has been in a state of correction over the past few days. Prices had reached a high of $3.32 on the 8th of February and have been falling since then. The market found some support at the $2.85 level, but prices have since fallen below this level. The market currently seems to be in a state of consolidation, but the bulls seem to be taking control as prices have increased today.

Tezos price analysis: XTZ prices stumble at $3.11 as correction continues 3
XTZ/USD 4-hour price chart, source: TradingView

The 4-hour MACD shows a slight bearish crossover, but the signal line is close to crossing above the MACD line, which is a bullish sign. Moreover, the RSI for the XTZ/USD pair is currently at 50.22, which is in the neutral zone. This indicates that the market is currently neither overbought nor oversold. Tezos market volatility is currently at a low level. The Tezos market volatility index has been on a downtrend over the past few days and is currently at a low level of 0.0332. This indicates that the market is currently in a state of consolidation. The market may remain range-bound in the near term as prices continue to fluctuate between $3.01 and $3.20.

Tezos price analysis conclusion

Tezos price analysis shows a positive market sentiment as bears try to intervene to push prices lower. Prices are expected to continue ranging between $3.01 and $3.20 in the near term as market volatility remains low. The technical indicators on the 4-hour and 1-day price chart show an indecisive market. However, the bulls have the upper hand as the MACD line is close to crossing above the signal line in the 4-hour timeframe. Therefore, it is possible that prices may rise in the near future.

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.
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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