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Tezos price analysis: XTZ price recovers to $1.15 as bulls make a comeback

Tezos price analysis: XTZ price recovers to $1.15 as bulls make a comeback

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TL;DR

  • The Tezos price analysis is bullish.
  • Resistance for XTZ/USD is present at $1.18.
  • Support for XTZ is present at $1.09.

The Tezos price analysis shows a bullish daily trend. Over the previous week, the bulls have effectively held onto their advantage and earned enough gains. In the past twenty-four hours, the price has also grown significantly; it is currently $1.15. The price began to recover after the significant fall seen yesterday, which has been very encouraging for purchasers over the last few hours. The bullish trend is anticipated to continue in the foreseeable future as well.

XTZ/USD 1-day price chart: Recovery continues after a strong correction

The price chart for 24-hour Tezos price analysis reveals positive trends for the cryptocurrency as it moves in a bullish direction. Throughout the day, the bulls had enough momentum to push the price up to $1.15. Due to the strong positive momentum, the price has consistently traded above the moving average (MA) value of $1.12. The Bollinger bands average, in contrast, is still holding steady at $1.10 and is still at a lower height.

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

As the volatility on the price chart is decreasing, the Bollinger bands have also changed their values. Now, the upper band stands at the $1.19 mark representing the resistance, while the lower band is at the $1.01 mark representing the strongest support. The Relative Strength Index (RSI) score is currently 61 and is predicted to increase further.

Tezos price analysis: Recent developments and further technical indications

The 4-hour Tezos price analysis is trending upward and is being accurately reflected by the price, which is rising. The sole substantial barrier is at $1.16, a level that the bulls might attempt to overcome soon. After eight hours of nonstop positive activity, the price has risen to $1.15.

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

The Bollinger bands’ top and lower limits are $1.20 and $1.13 respectively, and when combined, they exhibit relatively low volatility due to the delayed convergence of the Bollinger bands. The 4-hour price chart’s RSI score is 51, which is in the upper half of the neutral zone.

Tezos price analysis conclusion

The most recent Tezos price analysis indicates that the price is once again increasing. At $1.15 at the time of writing, the XTZ/USD value is projected to rise even further in the near future now that the bulls have regained control.

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.

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Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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