Price Analysis

Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?

Long wick rejection candle at $1.62 resistance suggests a reversal to the $1.2 support. Can XTZ buyers defend this support?
Published by
Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?

The June second week crash plummeted the XTZ price to a new 2022 low of $1.2. However, previously this support bolstered the Jan-and-April bull run, validating it as a strong demand zone. Thus, the coin price rebounded from this support last weekend, encouraging buyers to breach the $1.62.

Advertisement

Key points:

  • The XTZ price faces high supply pressure at a $1.62 resistance.
  • The MACD indicator shows a bullish divergence
  • The intraday trading volume in the Tezos coin is $65.4 Million, indicating a 72.9% hike.

Source- Tradingview

A constant downfall for the past eight months plunged the XTZ/USDT pair to Jan-Mar 2020 bottom support of $1.2, registering an 86.7% loss. However, on June 19th, the altcoin rebounded immediately with the tweezer bottom candles.

The bullish reversal drove the XTZ price 33% higher as it hit a significant resistance of $1.62. However, over the past four days, the coin chart shows higher price rejection at the mentioned level, indicating the sellers are defending this level.

Furthermore, despite today’s 68% rise in volume, the XTZ price struggles to surpass the $1.62 resistance, suggesting a reversal possibility. If the seller’s pressure persists, the altcoin could slump back to $1.2.

On a contrary note, a possible bullish breakout from the $1.62 resistance could bolster the buying pressure to drive the coin price 44% higher to the $2.38 mark. A breakout or reversal from the resistance zone could validate whether the buyers are ready for a genuine recovery.

Advertisement

Technical indicator

Despite a lower low formation in price action, the MACD indicator slopes climb higher, indicating growth in underlying bullishness. This divergence encourages XTZ buyers to breach the $1.62 resistance.

Since October 2020, the midline and upper band on the Bollinger band indicator have acted as strict dynamic resistance for coin traders. Moreover, the midline is currently assisting sellers in stalling the potential breakout from overhead resistance.

  • Resistance level- $1.6 and $1.8
  • Support levels- $1.2 and $1
Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump

The Ethereum price remains steady near the $3,900 level after multiple failed attempts to reclaim…

October 25, 2025
  • Price Analysis

Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates

Bitcoin price is hovering around $111,742, reflecting a 0.5% gain in the last 24 hours.…

October 25, 2025
  • Price Analysis

PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?

Pepe coin price has remained under pressure despite renewed signals of investor repositioning in the…

October 25, 2025
  • Price Analysis

HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move

HBAR price rose by 2.4% today, Oct. 24, mirroring the performance of the crypto market…

October 24, 2025
  • Price Analysis

Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK

The Chainlink price has maintained steady traction near $17.6, with on-chain accumulation strengthening investor confidence.…

October 24, 2025
  • Price Analysis

SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?

The Sui price has recently drawn investor interest after rebounding from a key demand zone,…

October 24, 2025