Tezos Price Forecast: XTZ On A Bullish Move

Tezos price soared from the support of $4.00
  • Tezos price forecasts uptrend from $4.00 to $4.34 on Wednesday’s trading session
  • The 24-hour volume in XTZ is at $401,743,649 with a 11.86% decrease
  • The XTZ/BTC pair was trading at 0.00007735 BTC with a gain of 3.89%

The 4-hour technical chart of Tezos price action forecasts 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 bullish hammer candlestick pattern which represents price has reached the bottom and can form a bullish reversal with medium reliability.

SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects below the SMA-50 (white), which projects a bearish trend. The price is also above SMA-100 (yellow). Investors may perceive a negative crossover in the SMA, and the price will also follow the negative trend.

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RSI indicator (BULLISH), with a value of 58.40, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 38 to 58 in the index, and it may plunge in future trading sessions.

Tezos Price Forecast Beginning Of Surge

Tezos price traded at $4.34 with a gain of 7.68% in the last 24-hour and 8.59% up in the weekly time-frame. Furthermore, Tezos price soared from the support of $4.00. In contrast, the market capitalization stands at $3.36 billion. Technically, investors can perceive a negative crossover in SMA for a short while. Moreover, the price movement can be towards the resistance of $4.49.

Resistance: $4.49

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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