Tezos price analysis shows the prices are currently testing the $1.6 resistance. The XTZ/USD pair is currently trading at $1.55, a decline of 7.90 percent. The market trend is bearish, and prices are expected to fall below the $1.45 support levels in the near term.
Tezos price analysis shows that the current rebound is losing steam and the bears are back in control. The market is expected to correct lower in the near term as the bulls struggle to hold on to gains.
Tezos XTZ Price Analysis for Long Term
Tezos price analysis over the last 24 hours reveals a bearish market trend. The market trend is bearish as prices have failed to sustain the rebound and have fallen below the $1.8 support levels. Tezos currently appears to be on the verge to complete the correction phase of the descending triangle pattern. Hence a notable upswing may be fast approaching.
On the XTZ/USD pair, the moving averages line is sloping downwards. The moving averages line on the XT Z/USD pair is sloping downwards, suggesting that the market trend is bearish. The 50-day MA is $1.75, and the 200-day MA is $2.15. These levels are critical support and resistance levels that the market is currently testing.
The MACD indicator on the XTZ/USD pair is bearish. The MACD indicator on the XTZ/USD pair is bearish, and this indicates that prices are likely to fall in the near term. The market is expected to correct lower as the MACD indicator turns downwards from these levels.
The volatility in the XTZ market is high, suggesting that prices will remain volatile in the near term. The Bollinger bands are observed to be wide, but they appear to contract, indicating that prices may experience a period of consolidation in the near future. In the immediate term, Tezos prices are anticipated to fluctuate between $1.45
Tezos XTZ Price Analysis for Short Term
Tezos price analysis on the 4-hour chart shows that prices have fallen below the $1.6 support levels and are currently trading at $1.55. The market trend is bearish, and prices are expected to fall further in the near term as the bears remain in control. Prices have found support at $1.45, and a break below this level may see prices decline towards the $1.35 level.
The technical indicators are flashing bearish signals. The RSI line is currently in oversold territory, with the MACD line crossing the red signal line from above. This implies that the market is expected to continue its bearish trend in the near term as prices seek support at lower levels.
Tezos price analysis sums up that the prices are currently trading in a bearish trendline, and further losses in prices are imminent. The bears are seen to be adamant in pushing the prices below the $1.55 level which is expected to act as the closest support level. However, the bulls have come out to defend the $1.5 level as witnessed on the daily chart.