Tezos price analysis: XTZ slowly continues higher, pauses below the $4 mark

TL;DR Breakdown

• Tezos price analysis is bullish today.
• XTZ/USD holds below $4 resistance.
• Closest support at $3.8. 

Tezos price analysis is bullish today as we have seen a steady advance over the last 24 hours lead to the $4 mark. Likely XTZ/USD will continue even higher as there are no strong rejection signs for further upside.

The cryptocurrency market has traded in the green over the last 24 hours. The market leaders, Bitcoin and Ethereum, have gained 9.17 and 6.23, respectively. Meanwhile, the rest of the top altcoins follow with similar results.

Tezos price movement in the last 24 hours: Tezos reached further highs at $4

XTZ/USD traded in a range of $3.78 – $4.04, indicating a moderate amount of volatility over the last 24 hours. Trading volume has declined by 26.71 percent., totaling $216.26 million. Meanwhile, the total market cap trades around $3.51 billion, ranking the coin in 39th place overall.

XTZ/USD 4-hour chart: XTZ looks for a small retracement?

On the 4-hour chart, we can see the $4 mark currently holding the Tezos price from further upside after a slight rally over the last 24 hours, likely leading to minor retracement later.

Tezos price action has continued to advance over the past week, setting both slightly higher highs and lows. After the previous major high at $3.6 was broken at the beginning of February, XTZ/USD began to show signs of resistance.

A new higher high was reached below 4$ on Thursday, leading to some consolidation forming and potentially indicating a reversal. However, after a brief retracement and another higher low, XTZ/USD continued higher, moving slightly above the $4 mark.

Currently, we see the Tezos price failing to reach more upside. Therefore, we expect another brief retracement before more upside can be tested. Overall, the momentum is still heavily bullish.

Tezos price analysis: Conclusion 

Tezos price analysis is bullish today as we expect more upside to likely follow over the last 24 hours. However, a slight retracement over the next hours is highly possible as the $4 mark offers strong resistance for now.

While waiting for Tezos to move further, see our articles on Coinbase vs Coinbase Pro, Hardware vs Software wallet comparison, best Crypto trading platforms in the USA.