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Tezos price analysis: Bearish clouds fade as XTZ prices near $1.68

Tezos price analysis

TL;DR Breakdown

  • Tezos price analysis is in a bearish trend
  • Support for XTZ/USD is present at $1.62
  • Tezos price is facing resistance at $1.82

Tezos price analysis for today shows a bearish market sentiment as bears stumble towards the $1.68 level. The market has been on a steady decline for the past few days as the market is down by over 7%. The XTZ/USD pair is currently trading at $1.68 and is down by 1.96 percent on the day. The market is moving downwards as the market sentiment remains bearish. Support for the XTZ/USD pair is present at the $1.62 level and resistance is present at the $1.82 level.

image 320
Cryptocurrencies prices heatmap, Source: Coin360

The cryptocurrency has a market trading volume of $53,865,672 ,with a market capitalization of $1,505,214,496 .The digital asset is currently trading at $1.68, which is a fall of 1.96 percent in the last 24 hours. The market is expected to continue its decline as market sentiment remains.

Tezos price movement in the last 24-hour: Bears mount pressure on XTZ/USD prices

Tezos price analysis for the 24-hours price chart shows that the XTZ/USD has been on a downtrend for the last 24-hours. The next few hours of trading are crucial for the market as the market is expected to make a move. The market is currently facing resistance at the $1.82 level, and a break above this level can see prices test the $2.00 level. However, if the market fails to make a move above this level, we can expect prices to fall towards the $1.50 support level.

image 321
XTZ/USD 1-day price chart, Source: TradingView

The technical indicators and moving averages for XTZ show a bearish crossover as the 50-day SMA is trading below the 200-day SMA. The RSI indicator is currently at 27.13, and this indicates that prices have further to fall before we see a reversal in the market trend while the MACD line is trading below the signal line,a bearish sign.

XTZ/USD on 4-hour price analysis: Bearish wave extends as price steps to $1.69 low

Tezos price analysis for the 4-hour price chart shows that the market is in a bearish trend as prices have fallen below the $1.80 level. Prices are currently trading at the $1.68 level, and a break below this level can see prices test the $1.50 support level.

image 322
XTZ/USD 4-hour price chart, Source: TradingView

The prices are in a declining trend as the market is currently trading below the moving averages. The RSI indicator is currently at 42.97 and is indicating that prices have further to fall as the market remains in a bearish trend. The MACD indicator is close to crossing below the signal line, which is a bearish sign and indicates that prices may continue to fall in the near term.

Tezos price analysis conclusion

Tezos price analysis is in a bearish trend as market sentiment remains negative. Prices are currently trading at the $1.68 level and a support level is present at $1.62 while resistance is present at $1.82. Prices may continue to fall in the near term as market sentiment remains bearish. The technical indicators show that prices have further to fall as the market is in a bearish trend. Investors are advised to wait for the market to find a bottom before making any long-term investments.

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.He loves content and creating features on cryptocurrency.

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