- Tezos is finally back in action with a significant positive movement upfront.
- The altcoin is having an overall gain of 6.93% with the aim of breaking the crucial mark of$3.00.
- The traders should now bring tezos to attention as it has the potential of long term bullish growth.
Tezos have started showing positive momentum in the market since facing heavy price corrections for a while. Reaching its crucial support level of $2.55 can be one of the reasons for the bullish momentum. However, it is still looking a little bearish for the short term but has a positive future for long term investments.
Now the altcoin is looking forward to crossing the crucial mark of $3.00 to confirm the return of XTZ bulls in the market. A successful close above the crucial mark will provide a huge advantage to the cryptoasset. The current price is $2.88 with the market capitalization of $2,025,452,772 with 24h volume traded of $169,215,958.
Tezos Technical Analysis
The technical chart reflects on the bullish momentum made by XTZ bulls from the starting of the year. It started the year with a price of $1.35 and went to the highest at $3.90. It attempted to cross the $4.00 mark in which it failed miserably and resulted in the downfall of the prices.
The technical indicators and oscillators somewhat favor XTZ bulls. RSI is moving between the level of 40 to 50. Any movement above the level of 50 will favor XTZ’s positive momentum.
CCI is in the normal region after a negative divergence from the overbought territory. This indicates that XTZ can be able to sustain on the bullish momentum built in today’s market and would be able to cross the crucial mark of $3.
MACD levels also indicate a strong bullish phase for the altcoin due to the bullish cross developed in the bearish zone. It also indicates that there is potential that XTZ may fave heavy buying volume in upcoming days or so.
Resistance levels: $3.50 and $3.90
Support levels: $2.70 and $2.00
