Will XTZ reach $1.5 Soon?

• Bullish XTZ price prediction ranges from $0.6 to $1.8.
• Analysis suggests that the XTZ price might reach above $1.455.
• The XTZ bearish market price prediction for 2023 is $0.649.

What is Tezos (XTZ)?

Tezos is a generic and self-amending crypto-ledger that can instantiate any blockchain-based ledger. The operations of a regular blockchain are implemented as a purely functional module abstracted into a shell responsible for network operations. Bitcoin, Ethereum, Cryptonote,

etc. can all be represented within Tezos by implementing the proper interface to the network layer.

However, unlike BTC and Ethereum which needs a hard fork for improvement, Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without the necessity of a hard fork.

One of the essential uses of Tezos blockchain native token Tez (XTZ) is to interact with decentralized applications (DApps), pay for fees, secure the network through staking, and provide a basic accounting unit on the Tezos platform. Tezos blockchain is one of the leading smart contracts that use the Proof of Stake (PoS) consensus mechanism. This ensures that smart contracts can be reliable, secure, and mathematically verified.

Tezos (XTZ) Market Overview

Analysts’ View on Tezos (XTZ)

Plenty, a leading decentralized exchange announced that  it has joined forces with 

@tezosdomains to ensure a smooth launch of the Tezos Domains (TED) token.

Tezos (XTZ) Current Market Status

XTZ has a circulating supply of 941,432,655 XTZ coins, while its maximum supply is not available, according to CoinMarketCap. At the time of writing, XTZ is trading at $0.7386 representing 24 hours increase of 3.88%. The trading volume of XTZ in the past 24 hours is  $16,644,450 which represents a 31.26% increase.

Some top cryptocurrency exchanges for trading XTZ are Binance, BTCEX, OKX, Deepcoin, and Bitrue.

Now that you know XTZ and its current market status, we shall discuss the price analysis of  XTZ for 2023.

Tezos (XTZ) Price Analysis 2023

Currently, Tezos (XTZ) ranks 55 on CoinMarketCap. Will XTZ’s most recent improvements, additions, and modifications help its price go up? First, let’s focus on the charts in this article’s XTZ price forecast.

Tezos (XTZ) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility. 

When Bollinger bands are used in a cryptocurrency chart, we could expect the price of the cryptocurrency to reside within the upper and lower bounds of the Bollinger bands 95% of the time. The above thesis is derived from an Empirical law. 

The sections highlighted by red rectangles in the chart above show how the bands expand and contract. When the bands widen, we could expect more volatility, and when the bands contract, it denotes less volatility. The green rectangles show how XTZ retraced after touching the upper band (overbought).

When considering the chart above, we could see that the Bollinger bands are currently swelling after a period of squeezing. Moreover, XTZ has continuously been touching the lower band, as such, we may see XTZ retrace and move towards the SMA. However, based on observation of XTZ behavior there’s a possibility of XTZ feint moving towards the SMA and then changing directions towards the lower band.  

Although the bands are widening, it is facing downwards, as such, we may see the price of XTZ further fall. However, there may be small corrections where XTZ moves horizontally across the Bollinger bands. 

Meanwhile, the Bollinger bandwidth (BBW) indicator is valued at 0.33 and it is facing upwards. Interestingly, the last time the BBW indicator touched this area the direction of the line changed. Hence, maybe we could see the bands construct again, but it needs confirmation.  However, if the above statement is not fulfilled we may see the bands widen further until the BBW indicator read 0.36 and 0.51. 

As such sellers may need to want to consider entering the market before their profit shrinks. Buyers may need to wait for XTZ to hit rock bottom and cash in on it as the opportunity present itself. 

Tezos (XTZ) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA, it is considered bullish; if it’s below the SMA, it is bearish.

Currently, the RSI is below the Signal line, hence, XTZ is bearish. Additionally, the RSI has reached a value of 26.43, and its deemed as oversold. However, as the line seems to be heading upward, we may see the market correct the price in the future.  

The Stochastic RSI measures the strength or the weakness of the RSI indicator. As such, it compares the current RSI with the range of past RSI values for a specific period. The StochRSI reads a value of 1.982 and it’s heading in the direction of getting out of the oversold region. 

Meanwhile, as per the RSI Support and Resistance by the DGT indicator, XTZ has just retraced after touching the crossunder oversold line. Currently, XTZ is heading toward the Crossover Oversold region (Orange line). If XTZ manages to break the above-mentioned line, then we may see it approach cross bear zone. 

Since the Stochastic RSI and RSI are both heading upwards, we could assume that XTZ has reached its bottom. As such, XTZ may keep increasing in price. Hence, buyers made need to consider entering the market as XTZ seems to be presenting an excellent entry point.   

Tezos (XTZ) Price Analysis – Moving Average

The Exponential Moving averages are quite similar to the simple moving averages (SMA). However, the SMA equally distributes down all values whereas the Exponential Moving Average gives more weightage to the current prices. Since SMA undermines the weightage of the present price, the EMA is used in price movements. 

The 200-day MA is considered to be the long-term moving average while the 50-day MA is considered the short-term moving average in trading. Based on how these two lines behave, the strength of the cryptocurrency or the trend can be determined on average. 

In particular, when the short-term moving average (50-day MA) approaches the long-term moving average (200-day MA) from below and crosses it, we call it a Golden Cross.
Contrastingly, when the short-term moving average crosses the long-term moving average from above then, a death cross occurs. 

Usually, when a Golden Cross occurs, the prices of the cryptocurrency will shoot up drastically, but when there’s a Death Cross, the prices will crash.

When considering the chart above we could see that XTZ has been really trying hard to surge after it spiked in 2023. Although there was a Golden cross during the latter half of Mach 2023, XTZ was only able to test the 200-day MA. Since the second half of April 2023, XTZ has been collapsing. Though there was support for XTZ at $0.878, the bears were too strong, as such, that support level could not hold XTZ from falling. 

Currently, it seems like XTZ has reached rock bottom and is finding its way up. If XTZ starts to rise, its trajectory may be obstructed by the 50-day MA which could as the immediate resistance. Hence, those going long may need to consider entering the market and they may consider having their take profit near the 50-day MA. 

Tezos (XTZ) Price Analysis – Elder Force Index

Elder Force Index is an indicator that was invented by Alexander Elder, who was an entrepreneur. The indicator mainly uses two parameters to adjudicate the buying and selling force and thereby predicts the market trend. In particular, it relies on price change and volume. As such the strength of the buying force or selling force is dependent on either the price change or the volume. 

Whenever the EFI is greater than zero, or positive, we could say that the trend is bullish, as there is more buying pressure. However, when the EFI is in the negative zone, we could say that the cryptocurrency is in the negative zone and the selling pressure is more.

Moreover, the Elder Force could also be used to figure out trend reversals and breakouts. For instance when the EFI is making lower highs while the cryptocurrency is making higher highs, then we could say that this is a bearish divergence. However, in the event that the cryptocurrency is making lower lows while the EFI is making higher lows, then it is a bullish divergence.

Currently, the EFI indicator reads a value of -71.708K and the EFI line seems to be heading toward the zero line. The above sentence shows that the bear’s power is waning while the bulls are taking over the market. 

The above chart approves of the thesis that the bear’s power is waning away. When looking at the Bear Bull Power (BBP) indicator we could see that the BBP line is heading towards the zero line. We may see cross the zero line and fluctuate in the positive region. 

However, as per the EFI indicator, there was obstruction for it to rise above -37,603K level, hence, we may see some friction at the same spot. The above statement could be justified, as the rising EFI changed directions at near the 37,603K level. As such, there is a possibility that the EFI line could change direction. Hence traders should take this level to account when trading.   

Tezos (XTZ) Price Prediction 2023-2030 Overview

Tezos (XTZ) Price Prediction 2023

When considering the chart above, we could see that XTZ has been fluctuating in a falling wedge. If XTZ follows the classic breakout from the falling wedge, we could expect the prices to rise. Hence, as per the best practices of trading the falling wedge, buyers may want to have the entry point at the breakout point of  XTZ from the wedge. Moreover, they may want to set the take profit close to Resistance 2 at 1.19. This “take profit” point has been derived by trans-positioning the height of the wedge during the early days of its formation and setting it at the breakout point. 

There lies another possibility where XTZ has the potential to rise to Resistance 3 at $1.45. The aforementioned thesis could be justified by the XTZ’s spike in early 2023. As such, we could expect XTZ to reciprocate its spike in early 2023.

We could see that once XTZ reaches Resistance 2 there seems to be a retracement where the price fluctuated between Resistance 1 and 2. This rebounding of XTZ between Resistance 1 and Resistance 2 before the next surge to Resistance 3 or 4 could be an excellent entry point for buyers who missed out on the spike during its initial stages. 

Moreover, XTZ may reach Resistance 4 at $1.76 if it reciprocates its fluctuation pattern in late October 2019.  

Since XTZ is at its lowest point there seems to be no support other than Support 1 which is very close to where XTZ is currently. However, this doesn’t negate the fact that XTZ can’t further reduce.       

Tezos (XTZ) Price Prediction – Resistance and Support Levels 

The chart above highlights a dark triangle area which shows how XTZ was bullish since it was trading above the 1:1 Gann line. During its rise, XTZ was able to almost reach the 1:3 Gann line. However, after reaching the level, XTZ could not hold on. As such we could see it slide between the 2:1 and 1:1 Gann line. Although XTZ tested the 2:1 Gann line on numerous occasions, it wasn’t able to break it. Currently, XTZ is just below the 1:8 Gann line and we may see it surge.

If XTZ takes the formation of its early 2023 rise and spikes in the future, then we may see it rise along the 1:2 Gann line (white bars) before it begins to slide along the 2:1 Gann line. However, in the event that XTZ takes the formation of its rise in 2019 then we could see it rise along the 1:1 Gann line, however, we may see some consolidation and price correction before XTZ actually spikes. 

Tezos (XTZ) Price Prediction 2024 

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum XTZ based on the previous halving. Hence, we could expect XTZ to trade at a price, not below $4.6 by the end of 2024.

Tezos (XTZ) Price Prediction 2025

XTZ may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, XTZ will continue to rise in 2025 forming new resistance levels. It is expected that XTZ would trade beyond the $8 level.

Tezos (XTZ) Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, XTZ could tumble into its support regions. During this period of price correction, XTZ could lose momentum and be way below its 2025 price. As such it could be trading at about $2 by 2026. 

Tezos (XTZ) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, that excitement has not been amplified in XTZ to that extent. As such, we could expect XTZ to trade just above its 2026 value at around $3.148 by the end of 2027. 

Tezos (XTZ) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, XTZ may reciprocate its past behavior during the BTC halving. Hence, XTZ would be trading at $6.2 after experiencing a considerable surge by the end of 2028. 

Tezos (XTZ) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment, XTZ could be trading at $13.35 by the end of 2029.

Tezos (XTZ) Price Prediction 2030

After witnessing a bullish run in the market, XTZ and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, XTZ could be trading at $10.5

Tezos (XTZ) Price Prediction 2040

The long-term forecast for XTZ indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. 

If they start selling then XTZ could fall in value. It is expected that the average price of XTZ could reach $21.8 by 2040.

Tezos (XTZ) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, XTZ could hit $34

Conclusion

If investors continue showing their interest in XTZ and add these tokens to their portfolio, it could continue to rise. XTZ’s bullish price prediction shows that it could reach the $1.45 level.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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