Tezos price analysis found support at $1.5 and resistance at $2.5. The coin is currently trading below both these levels and is expected to continue its downward trend in the near future. However, XTZ prices might find some support at $1.4, which is a key level to watch out for.
As mentioned earlier, Tezos prices have been on a downtrend over the past few days. The coin found support at $1.5 and resistance at $2.5. However, it has now broken below the $1.5 level and is currently trading at $1.4. This is a key level to watch out for as it is a key support level. If the prices break below this level, it would signal further downside in the near future.
Tezos price analysis on a 1-day price chart: Bears are adamant as XTZ prices remain below $1.89
On the 1-day Tezos price analysis chart, we can see that the coin has been in a downtrend since it reached highs of $3.6 on February 6. The coin found support at $1.5 and resistance at $2.5. However, it has now broken below the $1.5 level and is currently trading at $1.4. This is a key level to watch out for as it is a key support level. If the prices break below this level, it would signal further downside in the near future.
XTZ/USD on a 1-day price chart, Source: TradingView
The RSI indicator is currently at 47.8 and is indicating that the coin is in the bearish zone. The MACD indicator is also in the bearish zone and is indicating further downside in the near future.
The price of Tezos might find some support at $1.4, which is a key level to watch out for as it has been a key support level in the past. However, if the prices break below this level, it would signal further downside in the near future.
Tezos price analysis on a 4-hour chart: XTZ/USD prices are facing resistance around $2.1
On the 4-hour Tezos price analysis chart, we can see that the coin has been in a downtrend since it reached highs of $3.6 on February 6. The coin found support at $1.5 and resistance at $2.5. However, it has now broken below the $1.5 level and is currently trading at $1.4. This is a key level to watch out for as it is a key support level. If the prices break below this level, it would signal further downside in the near future.
On the other hand, if you see that the Bollinger band indicator is above the candlesticks, it implies that the market is currently in a bearish trend. The RSI indicator is currently below 50 and in a negative direction. The MACD signal line is also below the signal line, suggesting that the MACD indicator is also inether has been one of the most popular cryptocurrencies in recent years.
Tezos price conclusion
Tezos price analysis suggests that the market is bearish and that a further drop is anticipated. The bulls had attempted to increase prices, but they were unsuccessful as the market found support at $1.89. Investors are currently on the sidelines, waiting for the market to turn bullish again because buyers are still unsure whether or not prices will continue to decline.
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