•XTZ/USD is currently priced at $1.01 and has increased by 0.28% over the past day
•The trading volumes have increased by 5.52% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Tezos bulls preparing to launch an assault
The Tezos price today is $1.01 USD with a 24-hour trading volume of $15,432,505 USD. Tezos is up 0.28% in the last 24 hours. The trading volumes have increased slightly over the past day whereas the Volume to Market Cap Ratio stands at 0.01668 for the altcoin.
Inspite of the gains witnessed in Tezos over the past few days, the progress made has been laborious to say the least as the asset struggles to catch fire. The positive outlook is supported by XTZ Price currently transacting above the 50 SMA but below the 20 SMA on the four hour chart. The bulls will be looking to upstage the bears and launch an offensive towards the $1.20 resistance level. On the flip side, the support level for the asset is placed at $0.90 in the coming days.
Long Term View for XTZ
The RSI for Tezos is showing signs of improvement and is currently transacting at 42.52. A move above the halfway mark will provide the XTZ bulls with the impetus to surge on ahead. The green histograms continually gaining traction on the daily chart as the asset prepares for a massive launch. The MACD and signal lines are also moving forward towards the positive territory which solidifies the bullish presence.
Conclusion
Tezos is currently in recovery mode as the asset has been picking up the crumbs in order to stage a rally. The upcoming days will provide us with an insight into the future days of the coin.
Support: $0.90-$0.80
Resistance: $1.10-$1.20
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.
Source: https://www.thecoinrepublic.com/2022/12/11/xtz-price-analysis-is-the-period-of-consolidation-over-for-tezos/