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Tezos price analysis: XTZ remains consistent at $1.367

Tezos price analysis: XTZ remains consistent at $1.367

TL;DR Breakdown

  • Tezos price analysis is bearish today.
  • The strongest resistance is present at $1.428.
  • The strongest support is present at $1.307.

Tezos price analysis is bearish as the cryptocurrency has experienced a fall in the past few hours. Bears have taken control of the market, but the coin value rose from $1.245 on October 14, 2022, and reached $1.435. The price is capped at $1.368 on October 15, 2022; bears continue to rule the market today; however, a price increase is imminent. The market has shown consistent dynamics. The price for XTZ is currently available at $1.367, making its path toward the $1.4 mark.

XTZ has been down 0.59% in the last 24 hours, with a daily trading volume of $15,662,667 and a live market cap of $1,247,388,430. XTZ ranks #41 on the CoinMarketCap ranking.

XTZ/USD 4-hour price analysis: Recent developments

Tezos price analysis revealed that the market volatility is increasing, making the XTZ/USD prices subject to more change and more likely to experience the difference. The upper band value of Bollinger’s band is available at $1.419, which serves as the strongest resistance for XTZ. Conversely, the lower limit of Bollinger’s band is present at $1.307, which serves as the strongest support for XTZ.

The XTZ/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. Furthermore, the XTZ/USD price path appears to be moving downwards, signifying a decreasing market with further possibilities of decreasing movement. The price has favored the bears and might even cause a long-term rule for them in the future.

image 208
XTZ/USD 4-hour price chart Source: TradingView

The Relative Strength Index (RSI) score is 48, signifying that the cryptocurrency falls in the central-neutral region. The RSI score appears to move in a downward movement, signifying dominant selling activities. The bears have been given a golden opportunity and they are making the most of it, this will cause distress among the XTZ market.

Tezos price analysis for 1 day

Tezos price analysis for one day reveals the market volatility follows a decreasing trend signifying that the price is less prone to experience variable change as the volatility fluctuates more. The upper limit value of Bollinger’s band is present at $1.482, which serves as the strongest resistance for XTZ. Conversely, the lower limit value of Bollinger’s band is available at $1.337, which acts as the strongest support for XTZ.

The XTZ/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish movement. The market trend has been fluctuating daily, but the market has decided on an upward movement. The XTZ/USD price path appears to be moving upwards, which signifies that the market may soon undergo a significant increase, resulting in a completely bullish takeover.

image 209
XTZ/USD 1-day price chart Source: TradingView

The Relative Strength Index (RSI) score is 41, showing a stable value falling neither undervalued nor overbought, falling in the central-neutral region. The RSI path appears to be following a linear trend which indicates stability in the value of XTZ. The RSI score seems to be constant due to the buying activity equaling the selling activity.

Tezos Price Analysis Conclusion

Careful observations from the Tezos price analysis can deduce that the price level has obtained bearish dominance. Still, a reverse trend is highly likely as the bulls have recovered some of the losses in the past few days. Although the price remains in bearish dominion, there is hope that XTZ will preserve its value as the bulls get ready to counter the bears to reclaim the market.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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