Tezos price analysis: XTZ price recovers as bulls get closer to $4.38

TL;DR Breakdown

• The Tezos price analysis is bullish.
• Resistance for XTZ/USD is present at $4.38.
• Support for XTZ is present at $4.21.

The Tezos price analysis is predicting a bullish trend for the day. The bulls are successfully maintaining their lead and have made sufficient gains during the past weeks. The price has increased considerably during the last twenty-four hours also and is now positioned at the $4.32 mark. The past few hours have been highly encouraging for the buyers as the price glided past the $4.24 threshold. The trend has been continuous for today as well as the bulls are extending their range.

XTZ/USD 1-day price chart: Price moving unboundedly towards its target of $4.38

The one-day Tezos price is showing encouraging signs for the cryptocurrency as the price is following the bullish movement. The price received sufficient momentum during the day, which made it possible for it to reach the $4.32 level.

The price has been continuously trading above the moving average (MA) value, i.e., $3.90 as well, which is due to the great bullish momentum. In comparison, the Bollinger bands average is still at a lower height as it is holding up at $3.46.

As the volatility in the price chart is towards the increasing side, the Bollinger bands have changed their values as well. Now the upper band is found standing at the $4.38 mark representing the resistance, while the lower band is at the $2.55 mark representing the strongest support. The Relative Strength Index (RSI) score has reached index 63 and is expected to go further above this as well.

Tezos price analysis: Recent developments and further technical indications

The 4-hours Tezos price analysis is going in the bullish direction today as well as the price has been improving continuously. The only resistance was seen near the $4.24 resistance level which bulls conquered during the last eight hours. The price has been increased to $4.32, which is even above the upper limit of the Bollinger bands, i.e., $4.31. As the volatility is increasing, this may provide more opportunities to the bulls.

The Bollinger bands are supported at the $4.03 average, while the lower value is present at $3.74. The RSI score is going 70 for the 4-hours price chart, which is right at the border of the overbought zone.

Tezos price analysis conclusion

The price is going up once again, according to the latest Tezos price analysis. The XTZ/USD value is $4.32 at the time of writing and is expected to increase in value furthermore in the upcoming time period as well, as the bulls have successfully turned the price trend line upwards since 28th January.

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