Home
News
- Tezos (XTZ) recorded its latest 52-week low of $0.699 on 30 December.
- The market capitalization appears positive by a little over 1.0% at $659.9 million.
Tezos (XTZ) price has gained almost 92% to its all-time high so far and recorded a year-to-date loss of almost 83%. If you invested $100 in XTZ at the beginning of 2022, you would lose $17% at the end of 2022.
Aggressive selling pressure in the Tezos coin pushed the asset’s price to a 52-week low of $0.699 on December 30. Buyers lose hope of bounce-back and now they keep it in their portfolio only for the long term. In fact, technical indicators point to further selling in Tezos (XTZ) price.
At the time of writing, XTZ price is remaining just above the monthly low. Continued selling on crypto represents sellers dominance while crypto price stands at $0.715. Despite the extreme selling pressure, Market capitalization appears little positive by 1.0% at $659.9 million.
Buyers lost a vital defending zone of $1.0 in mid-December, which flipped into the most recent bullish hurdle in 2023. Buyers often failed to note strong recovery in price whereas sellers followed a selling on rise strategy in the market. If XTZ price slips below the weekly low, then fib 0.786 (at $0.60) will be the next support.
Trading volume increased in last four days, and it reported $13.9 Million in the last 24 hours. Furthermore, ADX also moves higher continuously. As pf now it stands at 61 Mark, shows intense selling in Tezos price.
Over the daily chart, Stoch RSI and Simple RSI indicators favor more sell-off ahead. But oversold simple RSI peak may display positive signs ahead. However, MACD is still present in negative region.
Conclusion
The Tezos price (XTZ) trades at the lowest level of the year. Due to the weak market, buyers are afraiding to invest in XTZ crypto. To overcome sellers dominance, bulls must reclaim assets above $1.0 resistance.
Support level – $0.70 and $0.60
Resistance level – $1.0 and $2.0
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
