TEZOS(XTZ):XTZ Heading Towards 52 week high of $4.48

  • XTZ Coin  projects positive retracement after a fall from $3.14
  • XTZ coin price today is $3.1725 ; with a loss of 0.48% in the last 24 hours and 8.36% up from last week
  • The XTZ/BTC pair performs positive with an overall gain of 0.46%, gravitating the present level to 0.00009479 BTC

Source: Trading view

After making a new  high of $3.404 on 20 JAN 2021, the Coin Price projected a   negative retracement but again came back to positive level. The XTZ/BTC pair is currently trading below the  resistance of 0.00012129 and it marked bullish momentum while gaining a value of 0.8%.It is now heading to the next resistance zone .

 XTZ TECHNICAL Analysis

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The weekly technical chart of XTZ highlights that ‘Bulls Are Roaring’ in today’s trading session. The XTZ  coin current Price is $3.15; with a resistance of $3.4, and support of $2.4668. The price is above 50 and 20 Day Exponential Moving Average (EMA). The 50-EMA red line at $2.4968 and 20 EMA line is at $2.7563  making a temporary support. As XTZ coin price has made a bullish pattern in the last few trading sessions, a further upward correction can be anticipated. The volume of XTZ has seen a loss of 22.49% and the market capitalization down by 1.06%.

MACD (Bearish): The levels showcased a bullish signal in the previous trading session. Moreover MACD indicator reflects bullish momentum in coin; which made XTZ  coin price surge.Though, a slight correction in the coin price can be seen as the bars of the histograms are showcasing very lower length

RSI (Bullish ): It is trading with a value of 61.56; indicates that the coin is going towards the overbought zone.The slope observed in the RSI is positive indicating an bullish momentum.

Source: Trading view

CONCLUSION

XTZ coin  showcased a bullish momentum from the past few days and hopefully can move upwards. Furthermore, XTZ/BTC pair is in a consolidation zone and can start the bearish momentum soon .Investors should be careful while investing as it can retrace back to its lower levels.

TECHNICAL LEVELS:

Major Support:$2.6897

Major Resistance:$3.4907

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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