The Tezos price prediction shows that XTZ begins with a steady increase above the $1.10 resistance as it is currently rising and might rally further.
Tezos Prediction Statistics Data:
- Tezos price now – $1.08
- Tezos market cap – $1 billion
- Tezos circulating supply – 965.5 million
- Tezos total supply – 986.5 million
- Tezos Coinmarketcap ranking – #66
Resistance Levels: $1.20, $1.25, $1.30
Support Levels: $0.90, $0.85, $0.80
XTZ/USD trades green today as the price hovers above the 9-day moving average. Meanwhile, a daily close above the upper boundary of the channel may increase the Tezos price to the resistance level of $1.15. However, traders should note that a consistent price increase may bring more buyers into the market as bulls increase their positions.
Tezos Price Prediction: Tezos Price May Begin to Move Higher
According to the daily chart, if the Tezos price stays above the 9-day moving average, it is likely to break above the upper boundary of the channel. On that note, the daily chart also reveals that if the 9-day moving average remains above the 21-day moving average, it may confirm the presence of the bulls in the market.
On the contrary, if the bulls fail to push the coin to the upside, the bears may take advantage and bring the market price toward the lower boundary of the channel. However, if the Tezos price rises and crosses above the channel, touching the resistance level of $1.15 could locate the potential resistance levels at $1.20, $1.25, and $1.30 but sliding below the lower boundary of the channel could bring the price to the supports at $0.90, $0.85, and $0.80.
XTZ/BTC Trades Positively
Against Bitcoin, the Tezos price is hovering above the 9-day and 21-day moving averages as the coin prepares for the bullish movement. However, the coin may cross above the upper boundary of the channel, which could hit the resistance level at 2800 SAT and above.
On the contrary, if the sellers bring the market to the south, traders can expect a bearish drop below the lower boundary of the channel, breaking below this barrier may locate the support at 2200 SAT and below. Meanwhile, the 9-day moving average remains above the 21-day moving average to give more bullish signals within the market.
Alternatives to Tezos
As of the current moment, the price of Tezos could potentially sustain its upward trajectory should the bulls intensify their buying activity. Nevertheless, for XTZ/USD to experience a change in momentum, the bulls might have to propel the price above the channel, considering that the closest resistance level seems to be positioned near the upper boundary of the channel.
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