Sign Up on MEXC
The toplines for Tezos [XTZ] Prices Analysis are:
- Tezos saw an 8% price decline this week as it drops to the $2.50 level.
- The cryptocurrency fell from a high of $3.00 which was seen earlier in the week.
Tezos saw a 8% price drop over the week after it fell from the $3.00 level to reach the current $2.50 level. The cryptocurrency spiked as low as $2.20 during the week where it managed to find some strong support at the 100-days EMA. It rebounded from here and closed above the $2.40 level which allowed it to slowly grind back toward $2.50.
Tezos is ranked in the 10th position as it currently holds a $118 million market cap valuation.
Tezos [XTZ] Price Analysis
XTZ/USD – Daily CHART – SHORT TERM
-
Market Overview
Analyzing the daily XTZ Price Analysis chart above, we can see that Tezos was trading sideways between $3.00 and $2.60 for the first 10-days of May 2020. Over the weekend, Bitcoin had dropped from $9,600 to $8,600 and this caused Tezos to drop quite steeply as it fell from $3.00 to reach as low as $2.20 where it found support at the 100-days EMA.
It rebounded from this support and climbed back above the $2.50 level. However, it seems to be struggling to pass the resistance at $2.74 now (1.272 Fib Extension).
-
Short term prediction: NEUTRAL
The drop beneath $2.40 turned Tezos neutral. The coin will now have to close above the $3.00 to turn bullish again. A break beneath $2.20 is likely to put Tezos in danger of turning bearish in the short term.
If the sellers push lower, the first level of support is located at $2.40. Beneath this, support lies at $2.34 (.382 Fib Retracement), $2.20 (100-days EMA), and $2.07 (.5 Fib Retracement).
On the other hand, the first level of resistance lies at $2.74 (1.272 Fib Extension). Above this, resistance is located at $2.93 (.1414 Fib Extension), $3.00, and $3.20 (1.618 Fib Extension).
-
Key Levels
Support: $2.50, $2.40, $2.34, $2.20, $2.07, $2.00, $1.80.
Resistance: $2.74, $2.94, $3.00, $3.20, $3.37, $3.68.
Liked this analysis? Follow our crypto analysis page at TradingView, for updates.
- Michael Saylor Credits Bitcoin for Strategy’s Outperformance Over ‘Mag 7’ Stocks
- XRP Overtakes Shopify, Verizon, Citigroup in Market Value as Price Eyes $6
- Altcoin Season Index Hits New High As ETH, SOL, DOGE, and XRP Rally
- ‘Huge Breakthrough,’ Peter Brandt Says as Dogecoin Reclaims $0.30 Ahead ETF Launch
- Bitcoin Bull Cycle Could Extend To 2026, Arthur Hayes Predicts
- Bitcoin Price Prediction: Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
