TL;DR Breakdown
- Tezos price analysis is bullish today.
- XTZ/USD holds below $54 resistance.
- Closest support at $3.5.
The price of Tezos is gaining momentum as we approach the $4 mark, and it’s currently in a degree position with MACD buy signal. There are no major rejection indications for further gains, which indicates that XTZ/USD will likely go higher.
The closest resistance lies at $4, with the most significant indicators at $4.5 and $5. These would be especially important to break to maintain a bullish trend and go even higher than $5.
Tezos price movement in the last 24 hours: Tezos reached further highs at $4
Tezos has proven its capability to grow and almost triple in value recently, which is why it’s expected to continue doing so as we approach the $4 mark.
We do not expect a substantial increase in volume until XTZ breaks through the resistance zone at around $5, which will give credence to further price increases and sustain its momentum in the future.
To have an idea of where Tezos could be headed from here, we need to take a look at what happened with its price over time: As seen above, XTZ/USD has had many ups and downs lately, but there is one trend that can be observed: a gradual increase in price without too much volatility.
XTZ/USD 4-hour chart: XTZ looks for a minor retracement?
Tezos (XTZ) has been gaining momentum and price as we approach the $4 mark, and it’s currently in a degree position with MACD buy signal. There are no major rejection indications for further gains, which indicates that XTZ/USD will likely go higher.
The price of Tezos has continued to climb over the past week, reaching both slightly higher highs and lows. Following the previous big high at $3.6, which was broken early in February, XTZ/USD began to show resistance signs.
The RSI is currently showing a degree of strength, and following the breakout from $3.6, it hit the overbought zone before returning to an equilibrium position between 30 and 70.
As we approach $4, XTZ/USD may see a small retracement, although this is unlikely because there are no major rejection signs or other warning signals for this to happen.
As XTZ/USD approaches $4, the next resistance zones lie at the levels of $4.5 and $5. The closest support lies at $3. There are no major support zones until we reach the $3.5 mark, which will be significant to hold for XTZ/USD to continue growing.
Currently, we see the Tezos price failing to reach more upside. Therefore, we expect another brief retracement before more upside can be tested. Overall, the momentum is still heavily bullish.
Tezos price analysis: Conclusion
Tezos price analysis is bullish today, and we anticipate more upside to come throughout the next 24 hours. However, a modest retracement is expected in the following hours as $4 acts as solid resistance.
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