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Tezos price analysis: XTZ prices stabilize at $2.10 levels as bears and bulls battle for price control

Tezos price analysis
TL;DR Breakdown
  • Tezos price analysis shows a downtrend
  • Support for XTZ/USD is present at $1.85
  • XTZ prices are facing rejection at $2.4

Tezos price analysis for today shows XTZ prices have been on a roller coaster ride over the past few weeks, however, things seem to be stabilizing at around the $2.10 mark. This is good news for those who have been holding onto their XTZ tokens, as it means that they are not likely to see any further significant losses in the near future. However, it is worth noting that there is still some resistance at around the $2.4 level, which could cause prices to fall back down to the $2.10 level if it is breached.

Nevertheless, the overall trend seems to be positive, and as long as prices can stay above $2.10, there is a good chance that they will continue to rise in the coming days and weeks.

The XTZ/USD pair has been hovering around $1.97 to $2.19 in the last 24 hours with prices swinging between these two levels. The market is currently trading at $2.13 as bears and bulls battle for price control near the $2.10 level. The trading volume is low at the moment, however, this could change if prices break out of the current range. If prices do break out to the upside, then the next target for bulls will be $2.40, which is where the resistance lies. Tezos has a trading volume of $156,228,888 and a market cap supply of $1,914,270,523.

XTZ/USD 1-day chart price analysis: Bears and bulls battle near the $2.10 level

Tezos price analysis on the daily chart indicates the prices are currently consolidating at around $2.10 before the market takes its next move. This is a bullish sign as it shows that the market is not ready to give up its gains just yet and that there is still some buying pressure present. However, if prices do break down from here, then the support at $1.85 will be tested. On the other hand, if prices break out to the upside, then the resistance at $2.40 will be the next target.

The RSI is currently at 53.23, which shows that the market is neither overbought nor oversold at the moment. The MACD is also showing signs of a possible bullish reversal, as the histogram is slowly moving into positive territory. However, the signal line is still below the zero line, which indicates that the bears are still in control of the market.

image 138
XTZ/USD 1-day price chart. Source: TradingView

The XTZ/USD market is facing some low volatility as the Parabolic SAR is currently above the price of candles. This is a bearish sign as it indicates that prices could fall in the near future. However, if prices do break out to the upside, then the SAR will flip to the downside and this will be a bullish sign.

Tezos price analysis on a 4-hour price chart: Tezos prices face rejection at $2.40

Tezos price analysis on the 4-hour chart shows that XTZ prices have been facing some rejection at the $2.40 level, which is where the resistance lies. However, if prices do break out above this level, then the next target for bulls will be $2.80. On the other hand, if prices break down from here, then the support at $2.10 will be tested. The trading volume is currently low, which indicates that the market is undecided at the moment.

image 137
XTZ/USD 4-hours price chart. Source: TradingView

The RSI is currently at 61.42, which shows that the market is getting close to being overbought. The MACD line is currently on the verge of crossing the red signal line and there is a chance that it could move into positive territory, which would be a bullish sign.

The Parabolic SAR indicator is currently showing a bearish reversal, as the SAR is currently below the price of candles. Also, the Bollinger bands are seen to be converging, which is a sign that the market is getting ready for a breakout.

Tezos price analysis conclusion

To sum up, Tezos price analysis shows XTZ prices are currently consolidating at around $2.10 as bulls and bears battle for price control near the $2.00 level. The market is currently facing some rejection at the $2.40 level, however, if prices do break out above this level, then the next target for bulls will be $2.80. On the other hand, if prices break down from here, then the support at $2.10 will be tested.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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