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Tezos price analysis: Bearish clouds fade as XTZ prices near $2.0

Tezos price analysis
TL;DR Breakdown
  • Tezos price analysis shows a bearish market sentiment
  • Tezos prices are down by 2.10 percent
  • Support for XTZ price is present at $1.7
image 232
Cryptocurrencies prices heatmap, source: Coin360

Tezos price analysis for today shows a bearish market sentiment as bears stumble near $2 and are currently trading at $1.80. Tezos prices are down by 2.10 percent as the market struggles to find support near $1.7.The bearish cloud that has been present over the past few days is finally fading, as XTZ prices move closer to the $2 mark. Prices have found some support at $1.7, but it is still unclear whether this will be enough to bring prices back up. The next few days will be crucial for the future of the Tezos market, as we wait to see if prices can continue to rise or if they will fall back down. Only time will tell.

Tezos price movement in the last 24 hours: XTZ prices are down by 2.10 percent

Tezos price analysis for the day shows the price has been alternating between support and resistance levels. The next few days will be crucial to see if XTZ prices can continue to rise or fall back down. The main support level is present at $1.7 and the main resistance level is present at $2.The trading volume for XTZ prices is seen at $69,828,717.01 and the market capitalization is at $1,596,231,659.32. The 24-hour trading volume is down by 43.2 percent and the 7-day moving average is currently at $1.829.The digital currency is ranking at position 41 as it dominates at 0.31 percent.

image 230
XTZ/USD 1-day price chart, source: TradingView

The technical indications and moving averages for XTZ show a bullish market sentiment as the SMA 50 is above the SMA200. The RSI is neutral at 54.35 and the MACD shows a bullish momentum as the MACD line (blue) is above the signal line. The MACD indicator is currently in the bearish zone as well. The 100 EMA line is currently trending below the 200 EMA line, which indicates a bearish market. The Bollinger bands are currently in a bullish trend as the upper band is above the lower band. The Parabolic SAR indicator is currently in a bearish trend as well.

Tezos price analysis on a 4-hour price chart: Bears are stepping back in as prices push towards $2

Tezos price analysis on a 4-hour price chart shows a bearish market sentiment as the price is pushing towards the $2 mark. The bearish winds are blowing stronger as the price is struggling to find support. The market is experiencing a sell-off as the prices are falling. The main support level is present at $1.7 and the main resistance level is present at $2. The RSI indicator is currently in the bearish zone at 47.22 and the MACD shows a bearish momentum as well. The Bollinger bands are in a bearish trend as well, as the price is trading below the upper band. The Parabolic SAR indicator is currently in a bearish trend as well.

image 231
XTZ/USD 4-hour price chart, source: TradingView

The Tezos market has been struggling over the past few days, as prices have fallen back down after reaching close to the $2 mark. The price seems to be finding some support at $1.7, but it is still unclear whether this will be enough to bring prices back up. The market volatility is expected to continue to rise in the next few days, as we wait to see if prices can rebound or if they will continue to fall.

Tezos price analysis conclusion

Tezos price analysis reveals the prices are down by 2.10 percent as the market struggles to find support near $1.7.The bearish cloud that has been present over the past few days is finally fading, as XTZ prices move closer to the $2 mark. The bulls are however struggling to defend the $2 level as the price keeps getting rejected. More selling pressure may be seen in the market if prices fail to find support and continue to fall.

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 Oluwatobi

Joel Oluwatobi

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.I love content and creating features on the cryptocurrency.

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