Tezos Price Movement Analysis for 18th February 2021

Spread the love

With the value of bitcoin rising to touch yet another all-time high above $52k, the market’s altcoins also grew. With a market capitalisation of $3.6 billion, Tezos was ranked 24th in the CoinMarketCap rankings. It should be noted, however, that the price of XTZ was close to its peak at press time after the crypt was rejected at its immediate level of resistance.

Tezos daily chart

Tezos’ [XTZ] daily chart pointed out that since the beginning of February, the price has shown a clear uptrend. This surge was enclosed in the ascending channel, which was followed by a breakdown.

The break of the trend in XTZ charts indicated that $4.15 was a good immediate support for the value of the crypto-asset. Tezos’ price has been heading sideways for the past few days, in the range between $5.75 and $4.15.


Tezos’ cryptocurrency market has recently reached a new all-time high, and the market momentum has stayed high since then. The same thing was pointed out by the Amazing Oscillator, with the indicator noting a drop after the breakdown. However, this did not mean a bearish takeover, as the market was still overwhelmingly bullish at press time.

RECOMMENDED READ:  Bitmain Disputed License Is Suspended By The Haidian Police

The Bollinger Bands were diverging, suggesting that the market of Tezos was full of uncertainty. However, with the price momentum decreasing, the price of the crypto could continue to move along the current range.

Finally, the Relative Strength Index pointed out that the crypto-asset lay in the over-purchased region before slipping below it. With the value of XTZ still high, traders were still buying a digital asset because the RSI was still close to the over-purchased zone.


Tezos’ daily chart depicted a breakdown of its ascending channel trend, after which the value of XTZ almost collapsed by 35%. However, the price of the crypto had started to rebound, with XTZ hanging on to the $4.15 price range for press time help. The value of the cryptocurrency can remain within this amount if the market volatility decreases.

 228 Interactions,  8 today

Synthetix, Tezos, Verge Price Movement Analysis for 24th February 2021

Tezos broke above 0.5 Fibonacci mark, targeting 0.618 and 1-levels at the back of its bullish on-chain metrics. Further down Read more

IOTA, Litecoin,  Tezos Price Movement Analysis for 22nd February 2021

Although gains in the wider crypto sector have been steady over the past week, a small pullback in market leaders Read more

 BAT, Dash, Tezos Price Movement Analysis for 20th February 2021

The last few days have demonstrated Bitcoin's dominance in the rest of the crypto-market. Until BTC hiked to crack the Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Us

%d bloggers like this: