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- Tezos price prediction suggests the sideways momentum of XTZ crypto over the daily price chart.
- Tezos crypto is trading below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of XTZ/BTC is at 0.00006078 BTC with an intraday gain of 0.97%.
After being rejected from the Descending triangle pattern over the daily price chart, the Tezos price prediction implies that the token is in its long-term accommodation phase. Investors in XTZ have been waiting for the token to rebound while attempting to move it steadily up the price range in the long-term consolidation phase. XTZ cryptocurrency is currently struggling to find support at the lower price range after recently recovering back inside the consolidation phase. To accelerate toward the higher price range of the consolidation phase, XTZ cryptocurrency has to amass a substantial number of buyers.
Tezos is presently trading at $1.00 on the CMP, representing a 1.27% gain in market value from yesterday. However, during intraday trading, the trade volume fell by 52.70%. The implication is that customers are contacting companies to withdraw XTZ.
To increase toward the higher price range, Tezos coin price needs to attract more buyers during intraday trading. Volume change is below average and must increase for XTZ to return to the higher price range. Investors in XTZ must watch the daily price chart for any directional changes. Tezos cryptocurrency is currently trading below the 20, 50, 100, and 200-day Daily Moving Averages.
What do Technical Indicators suggest about XTZ?
Technical indications suggest that the daily price chart for the XTZ cryptocurrency is rising. The relative strength indicator illustrates the upward momentum of the XTZ coin. The RSI is seeking to move past neutrality at 38. The MACD shows the increasing momentum of the XTZ coin. The MACD line rises above the signal line following a positive crossover. Investors in XTZ must wait for the cryptocurrency to bounce back and reach the higher price range of the consolidation phase.
Conclusion
After being rejected from the Descending triangle pattern over the daily price chart, the Tezos price prediction implies that the token is in its long-term accommodation phase. Investors in XTZ have been waiting for the token to rebound while attempting to move it steadily up the price range in the long-term consolidation phase. Investors in XTZ must watch the daily price chart for any directional changes. Tezos cryptocurrency is currently trading below the 20, 50, 100, and 200-day Daily Moving Averages. Investors in XTZ must wait for the cryptocurrency to bounce back and reach the higher price range of the consolidation phase.
Technical Levels
Support Level: $0.90 and $0.85
Resistance Level: $1.03 and $1.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.