- Tezos is finally back in action with a significant positive movement upfront.
- The altcoin is having an overall gain of 2.00% and sustained the crucial mark of $2.50.
- Tezos is finally showed real potential to cross $3.00 with overall bullish market conditions.
Tezos (XTZ) price started showing positive momentum in the market since facing heavy price corrections for a while. Reaching its crucial support level of $2.00 can be one of the reasons for the bullish momentum. However, now that the Tezos (XTZ) price is sustaining on the bullish momentum for the second consecutive date, it can be said that XTZ bulls are back in action.
Now the altcoin has crossed the crucial mark of $3.00 to confirm the return of XTZ bulls in the market. A successful break above the crucial mark and resistance level of $2.80 can provide a huge advantage to the Tezos bulls. The current price is $2.71 with the market capitalization of $1,906,452,772 with 24h volume traded of $131,215,958.
Tezos (XTZ) Price Analysis
The technical chart reflects on the bullish momentum made by XTZ bulls from the starting of this month. It started the year with a price of $2.50 and went to the highest at $2.80. It attempted to cross a $3.00 mark in which it failed miserably and resulted in the downfall of the prices.
The technical indicators and oscillators somewhat favor XTZ bulls.
Fib retracement levels indicate that the altcoin got strong support from the price level of $2.50 and gets reversals from the critical resistance area of $2.90. Therefore, breaking the resistance level of $2.80 won’t be an only hurdle for bulls.
RSI is reaching to the bullish level of 70. However, it is vulnerable to the overbought region which may provide it a negative divergence.
CCI attempted for the overbought region after a positive divergence from the depth of oversold territory. This indicates that XTZ can be able to sustain on the bullish momentum built in today’s market and would be able to cross the crucial mark of $3.00.
MACD levels indicate a strong bullish phase for the altcoin due to the bullish cross developed in the bearish zone and the levels reaching the bullish zone again. It also indicates that there is potential that XTZ may face heavy buying volume in upcoming days or so.
Resistance levels: $2.80 and $3.00
Support levels: $2.50 and $2.20