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- The bulls have finally made a comeback for XTZ.
- The altcoin is having an overall gain of 4.18% and sustained the crucial mark of $2.80.
- Tezos is finally showed real potential to cross $3.00 with overall bullish market conditions.
Tezos (XTZ) Price have started showing positive momentum in the market after facing downtrend nature for a while now. Reaching its crucial support level of $2.50 can be one of the reasons for the bullish momentum. However, now that the cryptoasset 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 $2.80 to confirm the return of Tezos (XTZ) bulls in the market. A successful break above the crucial mark and resistance level of $3.00 will provide a huge advantage to the cryptoasset. The current price is $2.84 with the market capitalization of $2,008,452,772 with 24hr volume traded of $111,215,958.
Tezos 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 $1.35 and went to the highest at $3.90. It attempted to cross the $4.00 mark in which it failed miserably and resulted in the downfall of the prices.
The technical indicators and oscillators somewhat favor XTZ 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.
OBV levels reflect that there hasn’t been a significant change in the volume traded for the altcoin during the past few days.
MACD levels also indicate a strong bullish phase for the altcoin due to the bullish cross developed in the bearish zone and levels reaching the bullish zone. It also indicates that there is potential that Tezos (XTZ) Price may face heavy buying volume in upcoming days or so.
Resistance levels: $3.00
Support levels: $2.50 and $2.00
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
