Tezos News

Tezos (XTZ) to Retest the Resistance Again; Support Level Lies Below $2.4

  • Tezos price continues to consolidate today after carrying out a partial recovery
  • The XTZ coin may resume the rally if the consolidation remains immune to bearish pulls

Tezos Price Analysis

Tezos, the altcoin which had rallied above $2.9, is now trading within the price range of $2.3 to $ 2.7 mixed bias. At present, the currency holds a bullish outlook. The XTZ coin has just formed two minor dips near $2.5.  

Yesterday’s bullish approach has now taken a stable turnaround. It seems to be trading between a narrow range of $2.50 to $2.55. Above $2.56, the coin may face a resistance level at the 50% fib level. 

In the last five days, Tezos coin has faced major downside volatility; the risk of volatility is still out there, but at least for the short-term, the coin may pursue the upside.

The mayhem occurred in mid of March, in the market, had pulled the XTZ price even below $1.5. The gradual recovery has stabilized the coin above $2 mark. Tezos had a few upside spikes above $3 lately, and now, it may target the same again.

Moving averages are still hesitant to enter the bullish zone while the MACD indicator is exploring the positive zone.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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