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TEZOS Price Analysis: Candles marking the new high for month, sell the token for massive returns

XTZ
  • XTZ has a block height of 1,580,641 and an operation count of 80.
  • The 1 day volume of coin is 13.58M and one year change by 5.85%
  • The RSI oscillator for TEZOS shows the BUY action.
tradingview

The coin has been forming a pattern of engulfing bearish in one hour. The last known price of the token, XTZ, is 2.99 and is up by 4.59% over the last 24 hours. It has the current trading volume(s) of 104,179,937 with a gain of 54.75% over the last 24 hours. XTZ has addresses of 5465 holders with the active address(es) of 120,841 in the last 24 hours. Past inflation of the token is 3.92%. The baker fee is 0.26754 XTZ and baker rewards are 40 XTZ.

The chart above shows the movement of XTZ where 200 DMA has been running below it and even DMA-50 is below it. We see the token with respect to SMA’s which are 20, 50, and 200 and it is SMA-20 which is beyond the other two SMA’s. We see an upward pattern in recent times. The trend line marked shows the sidewards shifting. The candles forming now are crossing the level of trendline and it seems that it would mark a new high for July. The high for July is 3.1148. 

Its top 10 and 20 holders have more than 75% holdings and top 50 and 100 have more than 50% which makes the decent supply side of the coin.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 73.776 and marks the buy action. MA-5, MA-10 and MA-20 show the buy action. Even MA-100 and MA-200 show the same buy action. However, the XTZ at present is all set to buy.

The bull/bear power has the value of 0.0918 and shows the buy action. The high/low marks the buy action with the value of 0.0408.

The XTZ-BTC pair is trailing at the level of 0.00007274 and the gain of 4.59% was seen whereas the XTZ-ETH pair is trailing at the level of 0.001223 and the gain of 4.84% was seen in the last 24 hours. The volume/market cap of the token is 0.04706 and its market dominance is 0.16%.

Conclusion: The days range for the coin is 2.760-3.0359 and presently is at 3.009. The 24 hours high and low of the coin is 3.02 and 2.67 respectively. We observed that the coin is forming candles with higher wicks and ironically the monthly high might form in the coming time on the last day of month.

ATH of token formed on 7 May 2021 at 8.40 and ATL formed on 7 Dec 2018 at 0.314. ROI of XTZ is 536.48.

Technical Instruments:

Pivot: 3.001

R-1: 3.023

R-2: 3.036

S-1: 2.980

S-2: 2.967

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour