Tezos (XTZ) Flashes Bullish Potential Near $4.3 – Price Analysis

  • XTZ highlights a bearish outlook today.
  • The alt’s support stands at $3.7
  • Tezos has a massive resistance at $5

Tezos (XTZ) remains bearish as the alternative coin saw massive devaluation within the past two days. Bears dominate the assets, and XTZ dropped from $4.49 on 6 January to value areas of $4.3 today, 8 January. As bears continue ruling the market, the coin might witness further drops today. Meanwhile, the market shows bullish potential amid bearish dynamics. While writing this news, XTZ’s price stands at $4.30.

XTZ/USD 4Hr Chart – Shift in Market Trend

Tezos analysis suggests market volatility to accompany the downward action. Thus XTZ is vulnerable to variable change. The Bollinger’s topside band at $5.2 serves as a massive resistance for Tezos. Meanwhile, the lower band presents support for the alt at $3.7.

XTZ price seems to cross beyond the Moving Average curve, highlighting a bullish bias. The trend switched to bullish recently because of the colossal increase in volatility. Bears controlled the altcoin before but failed to persist.

The Relative Strength Index stands at 42, suggesting XTZ does not fall to any extreme. Meanwhile, selling activity outperforms buying activity. That way, the RSI patch may follow a downward movement.

XTZ/USD 1-Day – Market Indicates Bearish Momentum

Tezos’ one-day price analysis indicates volatility following a somewhat dormant trend, indicating no signals of dropping to either extreme. The Bollinger band’s upper limit serves as XTZ’s resistance at $5.0. The Bollinger’s lower limit at $4.0 serves as the altcoin’s massive support.

XTZ/USD seems to cross beneath the Moving Average curve, confirming a bearish move. The trends have fluctuated daily but appear to favor bears at the moment. Nevertheless, the bearish potential exists despite the bearish dominance. Market players may need to be patient for what time will detect in Tezos price actions.

The RSI at 44 indicates a stable value, neither overbought nor undervalued. Meanwhile, the indicator follows a brief upswing that might show price increment in the future. Also, the RSI score seems to increase because of massive buying activity. Meanwhile, a trend reversal for Tezos seems possible as bulls step up.

By Howard Ford
No widgets found. Go to Widget page and add the widget in Offcanvas Sidebar Widget Area.