XTZ/USD rises to $1.52 after a massive bullish run

Tezos price analysis is bullish, with the XTZ / USD pair climbing to $ 1.52. However, the digital asset is facing resistance at this point and may pull back to test the support at $ 1.48. The price action has recently created a bullish candlestick pattern, indicating that the bears are losing control. Currently, the price is just below the upper limit of the channel at $ 1.53. A breakout above this level could see Tezos aim for the next resistance level at $ 2.00. On the other hand, a failure to break out of $ 1.53 could see the price roll back to test the support at $ 1.48.

The trading volume has increased in the past 24 hours to climb back to $ 21.175.375 Therefore, the bulls need to be careful as a bearish move could invalidate the bullish trend, Tezos price is currently in a breakout zone and a move in both. the directions could set the tone for the next move. The market cap for the Tezos price is currently $ 1,377,611,308.

XTZ / USD 1-Day Price Chart: Bulls Continue to Dominate As Tezos Price Closes $ 1.52

On the 1-day Tezos price analysis chart, we can see that the price is currently in a breakout zone between $ 1.53 and $ 1.48. A move in either direction could set the tone for the next move. The bulls have held control over the past 24 hours, pushing the price of Tezos to $ 1.52.

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1 day XTZ / USD price chart, Source: TradingView

Simple moving averages are currently in a bullish crossover, with the 50-day simple moving average (SMA) rising above the 200-day SMA. This indicates that the path of least resistance is to the upside and that the bulls have control of the market. The MACD is also in bullish territory and is bullish, indicating that the bulls have the momentum to push the price higher.

The RSI is currently at 68 and is rising, indicating that the price of Tezos is in bullish territory. However, it is approaching overbought levels, which could see the bulls take a break and allow the bears to take control of the market.

Tezos price action on a 4 hour price chart: recent developments

On the 4-hour Tezos price analysis chart, we can see that the Tezos price is currently in an uptrend. Prices are trading alongside the ascending channel and a breakout from the current range could set the tone for the next move. on the 4-hour price chart, buyers are currently in control as prices are trading above the moving averages.

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XTZ / USD 4-hour price chart, Source: TradingView

The MACD in the blue line is above the red signal line, indicating that the bulls have the momentum to push prices higher. The RSI is currently moving into the overbought region, which indicates that prices should undergo a correction. The 50 SMA is currently providing support at $ 1.48 and the 200-day SMA is currently facing resistance at $ 1.53.

Conclusion on Tezos price analysis

From the above technical analysis, it can be concluded that Tezos price is currently in an uptrend. The bulls have the momentum to push prices higher and a breakout from the current range could see prices point to the next resistance level at $ 2.level.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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