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- 1 The price of XTZ is trading near the value of $0.812. However, the crypto’s price declined 0.012% in the last 24 hours (press time).
- 2 XTZ price gives a negative return of -25.98% in the span of 6 months.
- 3 The market capitalization of Tezos is $771.427 Million.
Tezos is a cryptocurrency that enables smart contracts and decentralized applications. The price of Tezos has been fluctuating in a downward pattern that faces two challenges: a trendline and the 200-day EMA. The future direction of Tezos will depend on whether it can break above or fall below the pattern.
Tezos has shown some decent performance recently, as it gained 0.25% in the past week. However, Tezos lost 90.34% of its value in 2 years since reaching its all-time high of $9.12. The trading volume of Tezos for the last 24 hours is 14.349 Million and the average volume for the last 10 days is 409.486K.
The market sentiment for Tezos is unclear at the moment. There is no significant volume in crypto right now. The price has been rejected by the resistance line and is holding on to the 50-moving average.
Tezos Crypto Price Technical Analysis
The price of Tezos has been stuck between 50 and 200 SMAs with a bearish crossover that shows the strength of sellers in the market. If sellers continue to drive the market lower, XTZ prices could enter a downtrend.
The RSI line is moving toward the oversold zone. The RSI value is 46.46. The 14 SMA value is 50.11. However, XTZ’s price could fall sharply if it loses its current support.
Currently, MACD is bearish. The MACD value is -0.001 and the signal value is -0.004, both above the zero line, but the signal line crossed under the MACD line and is pointing downward.
Technical Levels:
- Support – The current support level is $0.775.
- Resistance –The current resistance level is $0.938.
Conclusion
The analysis shows that sellers and buyers are in a tight battle. Tezos (XTZ) is facing a downward pattern that has two obstacles: a trendline and the 200-day EMA. The price movement suggests that the investors have to wait for a proper setup for the next move. XTZ’s price is in neutral territory right now. Moreover, indicators such as the EMA, RSI, and MACD are bullish on Tezos crypto. The current situation requires traders and investors to be patient and wait for a clear break below or above the range before making any moves in the future.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not use this information as financial, investment, or as trading advice. Investing and trading in crypto is a risky task. Please consider your circumstances and risk profile before making any investment decisions.
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.
