Tezos Price Analysis: XTZ Price Gains by 15.00% Over A Single Trading Session

Xtz Price Gain of 15%
  • Tezos bounced back at $4.12 from the support of $3.20 on Monday’s trading session.
  • The SuperTrend indicator projects a buy signal. Until now, no signs of downtrend have been observed.
  • The XTZ/BTC pair was trading at 0.00008279 BTC with a gain of 6.13%
Source: TradingView

The 4-hour technical chart of Tezos projects a buy signal with an uptrend while presenting a SuperTrend indicator. Investors are intended to buy XTZ when the indicator turns from red to green while moving below the price. As long as the SuperTrend signals a bullish trend, Tezos’s downtrend is ensured.

Tezos (XTZ) Bounced Back From Support of $3.20 

Source: XTZ/USD on TradingView

Tezos price was $4.12 (at the time of writing); according to pivot points, XTZ’s critical support level is placed at $3.44. Whereas if it moves up, the key resistance level to watch is $4.33. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish pin bar candlestick pattern, representing a sharp reversal and rejection of price.

- Advertisement -

Investors can perceive that the candlesticks completed multiple Higher Highs (HH) and Lower Lows (LL) in the 4-hour technical chart. After forming three (LL) Tezos price bounced back from the support of $3.20.

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) moves below the SMA-100 (white), which projects a negative trend. The price is above both the SMA’s, which is a positive sign for the asset. Furthermore, investors can observe the lines moving close to each other, which indicates a positive crossover may happen in future trading sessions.

RSI indicator (BULLISH), with a value of 61.53, indicates a buy signal in the coin. Moreover, Investors can observe a downward slope in RSI from 67 to 61, and Investors should hold the asset and wait for the RSI to get towards the overbought zone.  

Hold your Positions in Tezos For Great Returns

Tezos traded at $4.12 with a gain of 5.0% in the last 24-hour. However, XTZ maintains a gain of 14.65% on the weekly time-frame. In contrast, the market capitalization stands at $3 billion. Technically, Tezos price bounced back from the support of $3.20 and is moving positively towards the resistance level of $4.33.

Resistance: $4.33

Support: $3.20

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Top Rated NFT Market

Australia's Top Rated Exchange

Top Rated Cryptocurrency Payment Service

Our Partners

cryptoheroes

RocketFuel