Tezos price analysis toward the end of March, Tezos price was in a bearish trend as XTZ/USD declined from $2.20 to $1.62. However, the bulls have since regained control of the market and are pushing prices back up. At the time of writing, XTZ/USD is trading at $1.68 after bouncing off support at $1.62.
On the 4 – hour Tezos price analysis chart, we can see that XTZ/USD has been in a bearish trend since February 21 when it reached an all-time high of $3.29. The market then corrected lower as it found support at $2. Toward the end of March, the market plunged further as it reached the support at $1.62. The bulls have since regained control of the market and are pushing prices back up. However, the market is facing resistance at $1.82.
If the bulls can push prices above this level, we could see Tezos price continue its upward toward the end of March, Tezos price was in a bearish trend as XTZ/USD declined from $2.20 to $1.62.
Tezos price movement in the last 24-hour: Bearish trend fades
Tezos price analysis for the 24-hours price chartBTZ7 price is down by 1.02% in the last 24-hour period. The market opened the day at $1.70 and reached a high of $1.71 before falling to a low of $1.68. At the time of writing, XTZ/USD is trading at $1.68.
XTZ/USD 1-day price chart, Source: TradingView
From the charts, we can see that the market is in a bullish trend as the moving averages are sloping upward. The RSI is currently at 54 and is rising indicating that the bulls have the momentum to push prices higher.
XTZ/USD on 4-hour price analysis: Recent price developments
Tezos price analysis for the 4-hour price chart shows that the market is in a bearish trend as prices have fallen below the $1.80 level. Prices are currently trading at the $1.68 level, and a break below this level can see prices test the $1.50 support level.
XTZ/USD 4-hour price chart, Source: TradingView
On the 4-hour Tezos price analysis chart, we can see that the market is in a bearish trend as it has been making lower highs and lower lows since February 21. The market found support at $1.62 and has since rebounded to where it is currently trading. The bulls will need to push prices above the resistance at $1.82 to invalidate XTZ/USD 4-hour chart.
Tezos price analysis conclusion
Tezos price analysis is in a bearish trend as market sentiment remains negative. Prices are currently trading at the $1.68 level and a support level is present at $1.62 while resistance is present at $1.82. Prices may continue to fall in the near term as market sentiment remains bearish. The technical indicators show that prices have further to fall as the market is in a bearish trend. Investors are advised to wait for the market to find a bottom before making any long-term investments.
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Source: https://www.cryptopolitan.com/tezos-price-analysis-2022-05-20/