Tezos Price Analysis: XTZ Price May Surge Above $4.50

XTZ bounced back from the support of $3.80
  • XTZ bounced back from $3.80 to $4.31 on Thursday’s trading session
  • The 24-hour volume in XTZ is at $1,102,239,832 with a 291.61% increase
  • The XTZ/BTC pair was trading at 0.00007671 BTC with a gain of 7.57%

The 4-hour technical chart of XTZ projects an uptrend. According to pivot points, XTZ’s critical support level is placed at $3.80. Whereas if it moves up, the key resistance level to watch is $4.50. While diving into the weekly chart of a 4-hour time-frame, it completes a pin bar candlestick pattern.

SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) crosses above the SMA-50 (white), representing the trend which is positive. The price is also above SMA-100 (red). Investors may perceive positive crossover in the SMA, and the trend remains bullish for now.

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RSI indicator (BULLISH), with a value of 60.35, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 45 to 60 in the index, and it may surge more in future trading sessions.

Tezos XTZ Gave Pullback From $3.80 

XTZ price traded at $4.31 with a gain of 10% in the last 24-hour and 3.62% up in the weekly time-frame. Furthermore, XTZ bounced back from the support of $3.80. In contrast, the market capitalization stands at $3 billion. Technically, investors can perceive positive crossover in the SMA. Moreover, the price movement can be above the resistance of $4.50.

Resistance: $4.50

Support: $3.80

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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.

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