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ThecoinrepublicUncategorizedTezos Price Analysis: XTZ Crossed $2 mark,...
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Tezos Price Analysis: XTZ Crossed $2 mark, Bulls Gearing up for a Rally

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  • Tezos, one of the best-performing crypto assets in 2019 and been maintaining its performance in 2020 also.
  • XTZ provided an overall gain of 17% at the starting of February and expected to surge more.

Tezoz is one of the altcoins which is showing amazing bullish performance since the inception of 2020. It also saw an increment in its ranking climbing to 11th largest cryptocurrency in the world from 15th spot in January 2020.

It started the year with the price around $1.30 and broke $2 mark in February. Currently, it is trading around $2.12 and facing price correction, therefore, dipped by 5.02%.

Tezos Price Fundamental Analysis

Weiss Crypto Ratings, one of the top leading crypto rating firm also backed Tezos fundamentally. It mentioned that strong bullish rally for this crypto asset is due to the flexibility provided to traders by the governing community. XTZ token holders will be provided 5% crypto “dividends”. The decentralization and bug-free code make XTZ apart from several other cryptocurrencies present in the market.

Tezos Price Analysis

Source: Tradingview

The market capitalization is around $1,471,664,669 and the 24H volume traded is approximately $86,637,085. Looking at the past bullish performance of this altcoin, it can be said that today’s price correction is a good buying opportunity for the traders.

The RSI is around 60 level, which is a positive sign for the bulls. However, the CCI has been through a lot of overbought zones, which also indicates that there is an upcoming bullish movement for tezos, but if the rally continues to be too sharp, it can result in a major pullback. The MACD levels also explain the active buying phase going for XTZ since January.

The next significant mark set for XTZ is around $3.30. However, if there is a pullback, it can be supported at a $1.85 mark.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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