Skip to content

Cryptocurrency Bulletin

Crypto Wallets, News, Reviews and Guides

Menu
  • Home
  • Crypto Prices
  • Analysis
  • Best Crypto Wallets
  • Crypto Market Updates
  • Interviews
  • News
  • Metaverse
  • Bitcoin
  • Predictions
  • Scams
  • Opinion
  • Videos
  • People
  • Brokers
  • Exchanges
  • Guides
  • Cryptofinance
  • Sitemap
Menu

Tezos (XTZ) Might Challenge $2.5 Daily Resistance – Price Analysis

Posted on May 25, 2022
  • Tezos price trends reveal bullish trends.
  • XTZ has resistance at $2.5.
  • The support level stands at $1.81.

Tezos price reveals bullishness as the alternative token climes towards $2.09 following a slight consolidation around the $1.80 value area. Bulls stepped up to catalyze upside actions after XTZ broke past an ascending triangle setup.

Meanwhile, Tezos dipped into a consolidation period after rising towards $2.49, trading within an ascending triangle setup as bears and bulls battled for market dominance. Bulls saw victory as they drove XTZ to $2.09, eyeing the target at $2.49. Breaking beyond this area would see Tezos exploring $3 soon. However, bears will not surrender without an intense fight.

The past couple of weeks had XTZ price on a tear as the altcoin climbed to $2.49 from $1.81. Nevertheless, Tezos met rejection at these hurdles and dipped into a consolidation period. The token has traded within an ascending triangle formation amidst bears and bulls battle. For now, the crypto contemplates an upside move as bulls enjoy a temporary regime.

For now, the Relative Strength Index hovered within the overbought territory amidst a bullish resurgence. Also, the Moving Average Convergence Divergence stayed in the bullish area and climbed as Tezos price increased.

Tezos has its price beyond its 20- and 50-day MAs, confirming bulls’ presence in the marketplace. Also, the Relative Strength Index remained within the bullish region, but the indicator started to lose strength, highlighting impending corrections.

Meanwhile, the 20-period Exponential Moving Average offers support near the $1.81 mark, whereas the 50-EMA stayed near $2.0. The Moving Average Convergence displays bullishness, with the Signal line crossing beyond the histogram. The RSI hovers within the overbought region, confirming potential consolidation in the coming sessions.

However, XTZ fans should watch broad market actions for profitable activities. Bears remained persistent in the crypto world, annulling all upside attempts. For instance, Bitcoin trades beneath $30K following the latest upswing beyond the mark.

While publishing this content, Bitcoin traded at $29,620. A move past $30,000 can support upswings in the altcoins, including XTZ. However, maintaining downside tendencies can see Tezos resorting to declines.

Cryptocurrency Bulletin is a blog dedicated to providing concise and up-to-date information on the latest developments in the world of digital currencies, blockchain technology, and decentralized finance.

Looking for something?

RSS Crypto Market Updates

  • Binance Founder Changpeng 'CZ' Zhao Stuck in U.S. Until Sentencing
  • Protocol Village: SKALE Community Approves Chain Pricing
  • Ether, Solana Hit 19-Month Highs as Bitcoin Rally Halts with Traders Fearing 'Bull Trap'
  • Solana Protocol Kamino Eyes Airdrop Following Jito Token Launch
  • This $28K Pixelated Avocado Could Add to Bitcoin's Raging Censorship Debate
  • Code Is Not (Always) Law
  • Sam Altman-Backed Meanwhile Group Starts Bitcoin Private Credit Fund for Institutional Investors
  • Basel Committee Seeks to Consult on Stablecoins Risk Treatment
  • Blocknative Releases New Ethereum Mempool Explorer, to Help With MEV Protection
  • Do Kwon Faces Extradition to U.S. for Charges Tied to the TerraUSD and Luna Collapse: WSJ

Recent Posts

  • Fxonic review 2023 – Is This a Reliable Trading Brand?
  • JETbitX Review – What To Expect From This Broker?
  • UniTrust Venture – Things you need to know about this trading brand before opening an account
  • Axia – A Broker That Can Be Trusted? (Axia Review 2023)
  • Is Copy Trading Worth Your Time? Here’s What You Need To Know
  • PayPal Joins ConsensYs To Implement Metamask
  • Amber Group Acquires Sparrow Holdings To Expand To Singapore
  • Binance Stopped Withdrawals in USDC on December 11
  • Does Grayscale Have Enough Bitcoin In Its Reserves
  • Dubai Is Developing New Cryptocurrency Regulations

Categories

Archives

©2023 Cryptocurrency Bulletin | Design: Newspaperly WordPress Theme