Tezos Price Forecast: XTZ Price Forecast A Bearish Momentum For The Future

Tezos Bears are ready for the next round
  • XTZ price is currently in  bearish momentum with a loss of  5.33%. Meanwhile, the XTZ/BTC pair is at 0.00007391 BTC with a loss of 4.61%
  • The S2F number for XTZ is negligible in comparison with the other altcoins. In Contrast, the technical indicator suggests a downtrend.

Tezos has seen a gain of more than 99% from the start of this year. XTZ price forecast a loss of more than 20% in upcoming days. Tezos is a blockchain-powered platform with a governance token mechanism. It was launched in 2015 and has seen an ROI of  747% since its inception.

XTZ is currently ranked 36th with a market capitalization of $3,045,371,951.The volume( $$3,045,371,951) of the coin has seen a gain of 16.07%. The volume to market capitalization ratio for the coin is 0.224. If it crosses above 0.8, then a huge buying rush can be seen.

Technical Indicators Hints A Bearish Move For XTZ Price Forecast

Source:Trading view
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The weekly technical chart of Tezos showcases bearish momentum. The daily chart of XTZ Price forecasts a bearish sentiment. Tezos price is trading below 50 and above 100 Moving average. The 50MA(RED) line is at $4.07, making it temporary resistance for the coin. Resistance for the coin on the upside is at $4.5 while coming on to the downside, the bounce-back can be seen from $3.5. A bearish engulfing pattern is formed on to the shorter time frame of 4 hr chart. If the price breaks 10% above $4.3, then there is a good chance that the price will see momentum up to $5.XTZ/BTC pair can also see a loss of 10% in the upcoming months.

RSI(Bearish): It is trailing at 42, showcasing its presence in the neutral zone. There is a negative slope formation in the RSI, highlighting that the price can see a strong downtrend. The overall sentiment of RSI is bearish.

Conclusion 

XTZ price forecast a great future while disrupting the current market. Tezos has seen various ups and downs but it is currently on a bull trend. The XTZ/BTC pair can also see a great return in the future. An investor should do their due diligence before investing

Technical Levels

Major Resistance:$4.5

Major Support: $3.5

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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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