Tezos price analysis: XTZ/USD prices escalate towards $1.48 as bulls continue ruling

Tezos price analysis

The Tezos price analysis shows that the bulls are trying to recover once again. The price has been rising and is planning to breach past the $1.52 resistance level. The recent uptrend has been quite encouraging as the bulls seem to be in complete control. The XTZ prices have seen a slight resistance at $1.52. This might indicate that the bulls are losing their grip and the bears might take over soon. The support for XTZ/USD is present at $1.46. however, if the price falls below this level, it might find support at $1.40.

The overall market sentiment is bullish as the prices are moving in an upward direction. The bulls need to break past the $1.52 resistance level and sustain above it for a sustained uptrend. The market capitalization for Tezos is currently at $1.17 billion and the 24-hour trading volume is at $38 million.

XTZ/USD 1-day price chart: XTZ increases by 0.4% after strong bullish momentum

The one-day Tezos price analysis is going positive for the cryptocurrency as there has been a considerable amount of rising in the price value. The price has now surpassed the $1.45 level and is aiming to settle down at a higher level. The coin has already gained about 0.04 percent value which will increase over time as the price is settling at $1.48 at the moment; however, as said earlier, the coin is at a loss of 2.56 percent if observed over the last two days.

image 259
XTZ/USD price analysis on 1-day price chart, Source: TradingView

The technical indicator for the 24-hour price chart is currently giving a bullish crossover signal as the MACD line is moving above the signal line. The Relative Strength Index (RSI) score is 48.33, which is quite an average number, and the curve of the indicator is upwards, which hints at the buying activity in the market. The 50 MA line is currently at $1.53 and the 200 MA line is located at $1.49 which might act as a support level for the coin in case of a price crash.

Tezos price analysis 4-hour price chart: Bullish momentum builds

The 4-hour Tezos price analysis chart shows the price is flying high once again as the bulls have gained back some strength during the past couple of hours. The current XTZ/USD price is going at $1.52 and is expected to touch an even greater height. The bulls have gained the advantage of the situation as they have been able to reverse the continuous bearish trend.

image 258
XTZ/USD on a 4-hour price chart, Source: TradingView

The RSI score has undergone improvement as well and is currently at 41.08 which is a good sign for the bulls. The moving average indicator is also currently giving bullish crossover signs as the 50 MA is currently at $1.49 and the 200 MA line is located at $1.48 which is a much lower level. The 4-hour MACD indicator is also currently in the bullish zone as the histogram is widening apart from each other and the MACD line is also currently above the signal line.

Tezos price analysis conclusion

The current Tezos price analysis suggests that the trend for XTZ/USD has been bullish for the day as the bulls are trying to find recovery after a long period of loss. The price has leveled up again as it has successfully reached the $1.48 position. The bullish momentum is expected to intensify in the future as long as the support remains intact. Overall, the chances have increased for the price improvement of the cryptocurrency as the bulls are moving high.

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.
Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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