Tezos price analysis: XTZ breaks below $3.6 as bearish stress overwhelms the market

TL;DR Breakdown

• The Tezos price analysis is bearish.
• The price has decreased up to $3.43 today.
• Support for XTZ is present at $3.34.

The Tezos price analysis is indicating a decrease in price as the bears have made a comeback once again. The trend line at the start of the past week was upwards, but later on, it proved extremely discouraging for the market as the bears are in a dominant position for the third day consecutively and have brought humongous loss.

Yet, today the situation is the same as the cryptocurrency is struggling to maintain its price above $3.43. But as the bearish momentum is growing, improvement in price seems impossible today.

XTZ/USD 1-day price chart: Bulls washed out as price continues sinking

The one-day Tezos price analysis is going in the bearish direction again after a successive downtrend. The price has decreased up to $3.43 today, which is quite low for cryptocurrency. Further decrease in price levels is to be expected as the bearish momentum is strengthening with time. Other important indicators include the moving average (MA), which is settled at the $3.80 position for the day.

The volatility is high, and the Bollinger bands’ values have changed as well. Now, the upper value is trading at $4.12, while the lower value is found at $3.09. The Relative Strength Index (RSI) level has also reduced drastically in the current situation as well and has moved down to index 45, indicating the strong selling activity in the market.

Tezos price analysis: Recent developments and further technical indications

The 4-hours Tezos price analysis is following the bearish trend as well as the price continues to be downgraded. The price levels are going down after being on a bearish trend for the last 28 hours. Currently, the price is settled at the $3.41 mark and is expected to go further down from here as no bullish activity has been observed today. The moving average is still quite low, i.e., $3.66, because of the constant price devaluation.

The Bollinger bands have expanded further apart, hinting at the volatility towards the increasing side as the upper Bollinger band has reached $4.19, and the lower Bollinger band is at the $3.45 mark. The price level has sunk below the lower band of the indicator showing a strong bearish grip over the market. The RSI score is going down as well because of the downtrend and has steeped into the underbought region at index 261.

Tezos price analysis conclusion

The Tezos price analysis suggests the price is going down today as it has reached the $3.41 level during the last 4 hours. The price has decreased notably if we compare it with the last week’s statistics. There are further chances of devaluation for the crypto pair as the support is still further low and is found to be at the $3.4 level.

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