Price Analysis

Tezos (XTZ) Price Accumulates Along with the Uptrend; Trades at $2.78

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  • Tezos, at the time of penning down this analysis, was trading at $2.78 and appeared like price accumulation, otherwise is also seen drawing an uptrend over the past month
  • XTZ/USD retains support from 50-day and 200-day MA; however, a further dip will lead to losing support from 50-day MA
  • The 20-day Bollinger Bands do not project any unprecedented volatility in the upcoming days
  • Although, the MACD is seen drawing a bearish crossover since the price turned down below $3.05 at the last trading day of the previous month
  • XTZ price was seen oscillating higher for the entire previous month until the bear broke in with volatility in the market

Tezos Price Analysis

XTZ News
XTZ/USD Chart By TradingView

On the 5-hourly chart, Tezos coin is drawing complex trends as the price accumulates amidst the uptrend drawn over the past month. The 20-day Bollinger Bands laid are not exhibiting any unprecedented volatility as it neither expands nor squeezes in the given time frame. Moreover, XTZ coin is holding a bearish crossover on the MACD chart since the last week of the previous month, with a single instance above $3.

The ongoing month started with an ignored momentum as Tezos has been trading below $3 over the past six days now, until the time of writing. The intraday has been lacking enough momentum for a bullish rebound and breakout above the 20-day upper Bollinger Band.

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The RSI of XTZ is at 51.82 and appears flat due to a lack of steady momentum yet is away from either of the extremities on the hourly chart.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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