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Tezos price analysis: Bulls push XTZ prices above 1.85 as momentum strengthens

Tezos price analysis
TL;DR Breakdown
  • Tezos price analysis shows the price is up by 3.18%
  • Support for XTZ prices is at $ 1.74
  • Resistance for Tezos prices is seen at $ 1.87
image 272
Cryptocurrencies prices heatmap, source: Coin360

Tezos price analysis today shows that the price is currently trading at $1.85 after bulls managed to push prices above the $1.74 support. The market has witnessed some buying action over the last 24 hours as XTZ price surged by 3.18 percent. The bulls have managed to push prices back above the $1.80 level and are currently targeting the $1.87 resistance.

The digital asset has been moving between a range of $ 1.74 and $ 1.87 over the past 24 hours of trading. The trading volume is currently at $ 320.81 million, and the market capitalization is at $ 1.43 billion. The coin market cap for Tezos has increased by $ 45.39 million in the last 24 hours. The total market capitalization of digital assets is currently at $ 2.14 trillion. The digital asset is currently ranking at position 41 while dominating 0.13 percent on the coin market cap chart.

Tezos price movement in the 1-day chart: XTZ prices prepare to bounce back after a mini-crash

Tezos price analysis on the daily chart reveals the market is likely to experience some consolidation between the current support and resistance levels. The RSI for XTZ prices is seen to be moving towards the overbought region, signaling that bulls are in control of the market momentum. Yesterday, the crypto markets took a hit as Bitcoin prices fell sharply by around 6%. However, XTZ managed to avoid a similar fate and only dipped by 3.5%.

image 269
XTZ/USD 1-day price chart, source: TradingView

The technical indications are giving mixed signals at the moment as the Stochastic RSI is currently in the overbought region. The moving averages are also flat, with no clear direction. The 20-day EMA ($1.76) is close to the current support level of $1.74, while the 50-day SMA ($1.70) is slightly below the current market price.

The MACD indicator is also flat at the moment with no clear direction. The short-term and long-term MAs are close to each other, signaling a possible consolidation in the near future.

Tezos price movement in the 4-hour chart: XTZ prices maintain the uptrend

Tezos price analysis today on the 4-hour chart shows that the market is currently in an uptrend as the price is trading above the 20-day and 50-day SMAs. The RSI indicator is currently in the overbought region, signaling that bulls are in control of the market momentum.

image 271
XTRZ/USD 4-hour price chart, source: TradingView

The MACD indicator is also giving a bullish signal as the signal line is close to crossing above the histogram. The Stochastic RSI is also in the overbought region, signaling that bulls are in control of the market momentum. The Bollinger Band indicator is also giving a bullish signal as the prices are trading close to the upper band.

Tezos price analysis conclusion

Tezos price analysis today shows that the market is currently in an uptrend as bulls push prices above the $1.80 level. The next target for the bulls is the $1.87 resistance level. However, the market is likely to experience some consolidation in the near future as indicated by the technical indicators.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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