Tezos price analysis shows price increases as buyers try to return. The past week has been very disappointing for the market as prices hit lows.
Today however, the situation is reversed as the cryptocurrency struggles to hold its price above $5.6. But with the bullish momentum building, further price increases are very likely in the coming hours.
One day analysis the price of Tezos is back in the bullish direction after a consistent downward trend. Its price rose to $5.71 today, which can be considered a big hit for the cryptocurrency.
Further developments are expected as the bullish momentum increases daily. Another important indicator is the moving average (MA), which is set at $6.01 for the day.
As the variability has decreased over the last 24 hours, the value of Bollinger Bands has also changed. The top is now at $7.63, the lower is at $4.23. The Relative Strength Index (RSI) also took advantage of the situation and rose to 51 and is currently flat.
4 hours XTZ/USD price analysis follows a bearish trend as the price drops again. The price level is dropping after escaping a major bullish performance in the last few hours. The price is currently around $6.94 and will move slightly from here to better positions as the Bollinger Bands have shrunk. Its moving average is still quite low, ie. $5.36 due to constant price fluctuations.
Volatility is on the downside as the upper Bollinger Band adjusted to $5.96 and the lower Bollinger Band adjusted to $4.67. The RSI score also dropped due to the downtrend and returned to 51.6.
The chart of the technical indicators for XTZ/USD gives a neutral signal as the number of buyers and sellers is almost equal. Competition is fierce because there are nine indicators of neutral position and buy position, eight of which are for sellers.
There was also a bullish intervention as the price covered the upside. That is why the moving average indicator gives a buy signal, because there are eight indicators at the point of buying, six at the point of selling and only one at the point of neutral.
The oscillator also gives a neutral indication because eight oscillators are below the neutral level. Meanwhile, two oscillators are attached to the point of sale and one to the point of purchase.
Infinity Tezos price analysis shows that the price will be high today as it broke through the $6.6 mark in the last 4 hours. Prices have increased significantly when we compare them to last week’s statistics. There is an additional chance for the bulls to rebound as the support is quite strong at $4.67.