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TEZOS Price Analysis: Will Tezos Be Ready To Give A Breakout?

TEZOS Price
  • The Tezos is trading at $2.67 around 4% down from the previous day 
  • The coin is in the consolidated phase and facing rejection from 20DEMA
  • The coin is trading at 0.00008153 around 4% down with respect to Bitcoin and 0.00126 around 0.01% up with respect to Ethereum 
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Tezos is a coin that is based on blockchain and very similar to Ethereum. The coin was founded by Arthur Breitman in 2019. Coin has a market capitalization of $2,291,217,589 and circulating supply of 851,879,229.41 XTZ. The coin is trading with a volume of $84,465,937 in the last 24 hours.

CHARTS ANALYSIS

The Tezos coin was launched in 2019 at $1.01 and went all the way up to $8.42 in the last 2 years. The coin gave a return of around 962% from the date of issue. Currently, the coin is trading at $2.7. In the charts, we can see that a coin from its all-time level formed a descending triangle pattern. The price took support on the lower bound of the triangle and resistance on the upper bound of the triangle. 

Indicator Analysis

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According to indicator analysis, we find out that the coin is phasing rejection from the 20 DEMA. 

50 DEMA had already crossed the 200 DEMA and 200 DEMA is trading closes to 100 DEMA if 100 DEMA cross the 200 DEMA then we can expect a slight fall in the market.

RSI is trading neutral at 40.84. No sign of any divergence in the indicator. 

MACD shows some interesting pictures of the MACD line intersecting above the Signal line but the MACD is showing slight bearishness as the histogram is decreasing and MACD line is reversing and showing a possible crossover in the future. 

Major support and resistance are at 

( S1= 2.39 AND S2= 1.94) AND (R1= 3.1096 AND R2= 3.52)