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Tezospriceanalysis

#Tezos Prints Higher, Will XTZ Edge Past $2.2?Past Performance of Tezos The dominant trend in the short term is bullish. Gleaned from the formation in the daily chart, buyers have the upper hand. Risk-off swing traders may find loading opportunities to buy the dips with targets at immediate key resistance levels. In the past 24 hours, XTZ is up four percent and stable in the previous trading week. #Tezos Technical Analysis Tezos is inching higher, trending inside a rising channel above the middle BB in a bullish breakout formation. Even though prices are within an ascending channel, traders may find entries to buy Tezos above the flexible support line and $1.80. On the other hand, risk-averse traders can wait for a clean break above $2.2 and last week's highs before riding the wave with targets at $2.5 in a possible retest. A recovery is likely following the 57 percent correction from 2022 highs. Depending on the reaction at $2.5, the move up would be a retest or a buy trend continuation pattern. Conversely, losses below $1.80 and the ascending channel would invalidate the bullish preview, setting sellers in motion. What to Expect from #XTZ? Buyers are optimistic, as per the arrangement in the daily chart. However, a close above $2.2 will be crucial in determining the immediate term price trajectory following double-digit losses from the beginning of the year. Resistance level to watch out for: $2.2 Support level to watch out for: $1.8 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Tezos adds 30% from 2022 lows, will XTZ Hold above $1.75?Past Performance of Tezos Tezos prices are retracing from recent highs, reading from the performance in the daily chart. Although there were hints of strength, the failure of bulls to push prices above $2.20, or last week’s highs, should be a concern. Technically, sellers have the upper hand provided prices are below $2.2, the immediate resistance line, from a top down analysis. #Tezos Technical Analysis Technically, the current XTZ coin formation favors bulls following gains above the middle BB. At spot rates, XTZ is up 30 percent from 2022 lows. Even so, sellers are in control from a top-down analysis as previously mentioned. This is because XTZ prices are still inside the May 9 to 12 trade range despite gains from May 12. Unless there is a firm close above $2.20 and May 9 highs, the current expansion could be an attempt for a retest. In that regard, aggressive traders may accumulate on pullbacks as long as prices are above $1.75. What to Expect from #XTZ? Prices are recovering after sharp losses from early April, which saw Tezos plunge by 64 percent. Although bulls are confident, the path of least resistance is southwards in the short-term. Still, there could be an opportunity for bulls in the immediate term provided prices trade above $1.75, in continuation of the recent trend in a welcomed retest of $2.57. Resistance level to watch out for: $2.20 Support level to watch out for: $1.75 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
XTZUSD to see an uptrend(1D)! | RSI, CCI in oversold regionMarket in last 1 week XTZUSD saw a downtrend breaking the lower band with high level of volumes Price volatility was very high. The market moved ~40.06%, between $2.67 and $1.91 Today’s Trend analysis XTZUSD expected to see an uptrend as the price is trading between midline and lower band with lower band acting as support, along with gap down, price to get support from lower band and increase Price at time of publishing: $2.03 XTZ’s market cap: $1.51 Billion Oscillator indicators are mostly neutral. RSI at 28 Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull MA indicates a buying opportunity Volume indicators saw an increase as red candles were observed with a low value for blue candle Price expected to see an uptrend as the price is trading between midline and lower band with lower band acting as support, along with gap down, price to get support from lower band and increase. Most of the Oscillator indicators are neutral. MACD line moving below the signal line with histogram size increasing in the negative region, suggesting a bearish bias. RSI at 28, in the oversold region indicating an uptrend. CCI is around -206, in the oversold region indicatng also an uptrend. Another interesting point to notice here is that volume saw an increase as red candles were observed with a low value for blue candle indicating a strong selling pressure. ---------------------------------------------------------------------------------------- The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles. DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- If you find the analysis useful, please like and share our ideas with the community! - Mudrex
COINBASE:XTZUSDLong
by Mudrex
7
XTZUSD to move sideways(1D) | Price riding the lower bandMarket in last 1 week XTZUSD saw a downtrend and started riding the lower band Price volatility was very high. The market moved ~49.9%, between $3.47 and $2.31 Today’s Trend analysis XTZUSD expected to see a sideways movement as the price after riding the lower band got support from lower band Price at time of publishing: $2.56 XTZ’s market cap: $1.9 Billion Oscillator indicators are mostly neutral. RSI at 36 Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull MA indicates a buying opportunity Volume indicators saw an increase in recent red candles while a decrease in the blue candles with the decrease in the 20-candle moving average Price expected to see a sideways movement as the price after riding the lower band got support from lower band. Most of the Oscillator indicators are neutral. MACD moving below the signal line with histogram size decreasing in the negative direction, suggesting a bearish bias. RSI at 36, below the midline still in the neutral region. CCI is around -113, in the oversold region indicating an uptrend. Another interesting point to notice here is that volume saw an increase in recent red candles while a decrease in the blue candles indicating a weakening buying pressure. ---------------------------------------------------------------------------------------- The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles. DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- If you find the analysis useful, please like and share our ideas with the community! - Mudrex
COINBASE:XTZUSD
by Mudrex
4
XTZUSD to see a downtrend(1D) | Series of HL and LH observedMarket in last 1 week -XTZUSD saw a downtrend breaking below the midline band -Price volatility was very high. The market moved ~20.59%, between $3.94 and $3.27 Today’s Trend analysis -XTZUSD expected to see a downtrend as a series of higher lows and lower highs were observed with Bollinger band squeeze -Price at time of publishing: $3.63 -XTZ’s market cap: $2.69 Billion -Oscillator indicators are mostly neutral. RSI at 53 -Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral -Volume indicators saw a decrease in volume as blue candles were observed suggesting a weak buying pressure Price expected to see a downtrend as a series of higher lows and lower highs were observed with Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD below the signal line with histogram size decreasing in the negative direction, suggesting a bearish bias. RSI at 53, above the midline still in the neutral region with an up move. CCI is around -30, still in the neutral region. Another interesting point to notice here is that a decrease in volume is observed as blue candles are seen, suggesting a weak buying pressure. ---------------------------------------------------------------------------------------- The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles. DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- If you find the analysis useful, please like and share our ideas with the community! - Mudrex
COINBASE:XTZUSDShort
by Mudrex
5
XTZ/USD Rising Wedge Pattern Prints Potential Massive Breakdown Tezos extends the weekend price action above $4.00 to test the resistance at $4.40. A reversal is underway mainly impacted by the formation of a short term rising wedge pattern. Some altcoins have been performing incredibly well over the last several weeks. The tokens have seen investors diversify their attention from Bitcoin to these smaller coins. This was reflected on Sunday when Chainlink attracted more volume on Coinbase than BTC. Tezos price action has been very impressive over the last few days. The weekend session was characterized by stability above the support at $3.00. The attempts to correct higher yielded massively for XTZ with buyers flocking to take advantage of the upward move. Several barriers were shattered including $3.40, $3.80, and $4.00. XTZ/USD soared to new monthly highs at $4.40 before starting the ongoing retreat. At the time of writing, XTX/USD is trading at $4.15. A couple of bearish candles have been printed with the price extending below a rising wedge pattern. Wedge patterns are particularly important patterns in determining price reversals. For instance, a rising wedge pattern (similar to the one on the XTZ/USD chart) signals a reversal from a continuous uptrend. Traders must however utilize this pattern in relation to other indicators such as the RSI, the MACD and the volume indicator. In this case, the RSI confirms the downtrend with a sharp retreat currently retesting the midline. Continued action under the midline would signal a strengthening bearish grip. The same downtrend is reinforced by the MACD as it spirals towards the mean line.  A slide into the negative region will emphasize the increasing influence of the bulls over the price. Amid the declines, support is expected at $4.00 (50 SMA), the 100 SMA ($3.84), $3.60 and $3.40. Tezos Intraday Levels Spot rate: $4.15 Relative change: -0.1044 Percentage change: -2.45% Trend: Bearish Volume: Expanding
COINBASE:XTZUSDShort
by CoinGape
10