Tezos Price Analysis: XTZ Coin May Test The Lower Support Levels

  • XTZ coin is currently travelling in a consolidated zone after the long bull run which started from FEB 1,2021 and made a 52 week high
  • Tezos price is currently at the level of $4.96 with a gain of 19.59% in 24hours period and 48.43% gain from the last week
  • XTZ/BTC pair is currently trading at the level of 0.0001042 BTC with a loss of 1.80% in a 24 hour time period.
Source :Trading view

The technical chart of XTZ coin highlights “Bulls Are Coming To Rest” in today’s trading session. The current price of Tezos coin is at the level of $4.96 while the major support is at $4.00 and major resistance is at $5.50.The coin volume has seen a gain of 54.53% and is currently at the level of $1,457,700,287.The market capitalization is at the value of $3,793,907,658 with a gain of 20.48%.

Grayscale had incorporated six more trusts, with one of them being tied to the XTZ token, which was seen as strongly bullish news.

Tezos(XTZ) Technical Analysis

Source: Trading view

Tezos current price has seen a jump of 19.59% in today’s trading session. The current scenario of XTZ coin depicts a positive rally. The coin forms a doji candle on today’s trading session, telling that the investors are sceptical about the coin. The pivot point on the 4 hr chart indicates the resistance at the level of $5.3499 and support at $4.2866

The coin is above 50 and 200 Exponential Moving Average. The blue line of 50EMA is currently at the level of $3.9232 and making it temporary support.XTZ/BTC pair is forming a Doji candle which suggests that the price may see a downtrend.

MACD: It has given a positive cross over signal in the 4hr chart. Bars of the histograms are also showing positive momentum. The overall sentiment of MACD is bullish.

RSI: It is travelling at the value of 68.38, showcasing its presence in the overbought zone. A positive slope is formed in RSI, highlighting that the price may move further upwards before testing the lower levels.

Conclusion

Tezos coin has seen a gain of 14% and made a 52 week high on FEB,13 2021.XTZ/BTC is also performing well and breaking the resistance of 50 EMA. An Investor should do their due diligence before investing

Technical Levels

Major Resistance:$5.3499

Major support:$4.38

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