Tezos (XTZ) Price Analysis: XTZ Bulls Helped In An Upsurge Of 130 % This Year But The Question Remains Buying Opportunity Still Persist?

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Tezos have rocketed to a new yearly high of $.44
  • However, the crypto market is in doubt that is there still any buying opportunity present in this crypto asset or a major price pullback will come into play. 

Tezos Price Analysis

Source: Coinmarketcap

As the parabolic curve in the graph indicates, Tezos has made tremendous price movement this year. It started with a price of $1.35 and touched a new year high of $3.44 today. We can say that the reason behind this strong momentum can be the strong fundamentals provided by its CEO Justin Sun

At the starting of February, it broke the major mark of $2.00 which indicated that there is strong bullish momentum coming for this crypto asset and today it was proved by breaking the $3.40 mark.

Currently, the price is around $3.28 with 17.78 % gain with the market capitalization of $2,282,470,016 and the 24h Volume traded of $136,448,992.

But the discussion now for tezos remains that is still traders having buying opportunity or there will be price pullback after this sharp positive rally.

Source: Tradingview

The technical charts suggest that the bullish momentum will be resumed for tezos as Stoch RSI is reflecting a strong buying phase for the crypto asset. The RSI is well settled at the level of 50.

CCI also remains in the positive zone which indicates that tezos are not facing major price corrections any soon. However, the volatility of tezos after these sharp rising momentum remains high based on saying that what goes up must come down after an asset goes full parabolic. 

Also, market forces will play a major role here. The crypto market is on bullish momentum and many of the altcoins are reaching new highs. This will surely help XTZ bulls to maintain the rally and traders should not have FOMO. 

Major resistance level: $3.50 

Major Support Level: $3.00 

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