- XTZ/USD highlights bullishness today.
- The pair holds under the resistance of $4.5
- Immediate support stands at $3.5.
Tezos price appears to gain momentum as the alt approaches the $4 level as the Moving Average Convergence Divergence presents a buy signal. Meanwhile, there are no massive rejection signs for more upside, which means XTZ will likely surge higher.
For now, the nearest resistance zone lies around $4. However, the asset needs to overcome the significant hurdle at $4.5. That way, it will gain the strength to explore levels beyond $5.
Tezos 24hr Timeframe – XTZ on Higher Highs of $4
Tezos proved its growth potential as it almost tripled its value over the recent sessions. Furthermore, the alt will likely continue surging as it approaches the vital level of $4. However, market players should wait for a break past the $5 resistance zone to expect a significant surge in volume. Overcoming the obstacle might reveal stable upswings, with Tezos sustaining the upward momentum.
However, let’s analyze the token’s price trends overtime for its probable actions in the future. Indeed, XTZ has seen multiple downs and ups lately. Analysts observed one trend; a gradual surge in price without substantial volatility.
XTZ/USD 4Hr Timeframe – Minor Retracements?
Tezos saw increased momentum as its price nears the $4 level, staying on a degree position with a ‘buy’ signal from the Moving Average Convergence Divergence. Meanwhile, the altcoin seems prepared for upside as the upward path appear somewhat clear.
XTZ has been surging since last week, touching higher peaks and lows. The previous higher high early this month triggered resistance signs. For now, RSI shows strength. Meanwhile, the break past $3.6 had the indicator hitting the overbought region before swaying to the equilibrium level from 30 to 70.
XTZ might witness a slight correction as it nears $4. Meanwhile, the following resistance stands at $4.5, then $5. The nearest support stays at $3. However, the footing at $3.5 may be vital to sustaining the continuing growth. Though minor retracements remain viable, XTZ’s overall trend is massively bullish.
Final Thought
Tezos (XTZ) reveals a bullish attitude today. Analysts believe the token will maintain upswings in the coming 24 hours. Nevertheless, investors should prepare for a slight retracement due to the solid resistance around $4.