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Tezos price analysis: XTZ rebounds to $0.7836 as bulls continue to lend their support.

Tezos price analysis

TL;DR Breakdown

  • Tezos price analysis is bullish today
  • The price increased to $0.7836 today
  • Support for XTZ is present at the $0.7562 level

Tezos price analysis shows a rise in price for the last 24 hours, jumping from $0.7562 to the current price of $0.7836. Tezos is recovering from yesterday’s loss when the price went down from $0.7562 as bulls have managed to bring the price function up to the $0.7836 level. Currently, the coin is retracing again, but a further recovery is also expected later today when the price function will move up toward the $0.7873 resistance.

The 24-hour chart shows that the coin is trending in an uptrend, with bulls having been able to maintain support at the $0.7562 level. The market cap for XTZ is currently at $723,066,215 and the volume traded in the past 24 hours is $11,338,631.

XTZ/USD 1-day price chart: bulls target the next resistance at $0.7873

The 1-day Tezos price analysis shows bulls have taken the lead once again and are trying to take the price higher. Overall, XTZ/USD has gained a value of 3.68 percent over the last 24 hours, but the bearish pressure is still present and a further breakdown cannot be ruled out.

image 131
XTZ/USD 1-day price chart, Source: TradingView

The volatility is decreasing for the XTZ/USD pair as the Bollinger bands continue to converge, the upper Bollinger band is at the level of $0.8294, and the lower band is at $0.7051. The moving average (MA) is at the $0.7483 mark. The relative strength index (RSI) is in the upper half of the neutral zone and still moving up at a score of 30.05 after dipping slightly into the lower half. The indicator hints at the buying activity in the market.

Tezos price analysis: Recent developments and further technical indications

The 4-hour Tezos price analysis indicates difficult times for the bulls as they are taking the price higher, but selling pressure is forming for the XTZ price function. Bears are hindering the bullish momentum, and the price has been seen declining during the last few days, but the coin is still in the greens for today.

image 132
XTZ/USD 1-day price chart, Source: TradingView

The moving average has traveled to $0.7747, below the price level, indicating a bullish crossover due to the bullish activity seen up till four hours ago. The volatility is quite high, which might provide a chance for bulls again in the coming hours. The Bollinger bands are diverging, with the upper band present at the $0.788 mark and the lower band present at the $0.7472 mark. The average of Bollinger bands is at the $0.7680 mark. The relative strength index (RSI) is at the level of 61.81, indicating that the market is in neutral territory.

Tezos price analysis conclusion

Overall, the Tezos price analysis is gaining bullish momentum and may continue to move higher in the coming days. The 24-hour and 4-hour chart shows that bulls are taking control of the situation and may continue to drive the price upwards. However, bears are still trying to intervene and might put a stop to the bullish momentum.

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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