Tezos (XTZ) established its all-time high at $8.40 in the beginning of May. The market corrections resulted in a sharp fall of the cryptocurrency. Tezos coin has been moving downwards since the market crash. At the time of writing, Tezos stands at a price level of $2.99. The price has stayed relatively stable in the shorter timeframes with only a 2% upside movement in the past twenty-four hours. The daily trading volume has fallen by more than 10%.
Tezos (XTZ) Technical Analysis
The market sentiment for Tezos crypto is neutral. Out of the total twenty-six technical indicators, ten are standing at a sell position with nine indicators neutral and only seven bullish. The oscillators are neutral while the moving averages are bearish.
Tezos has been identified to be operating in an ascending channel formation since the beginning of 2020. The cryptocurrency has been oscillating inside the channel formation and has not yet broken either of the boundaries yet. Tezos reached towards the upper resistance line as it established its ATH while on the other side, a strong support level can be found for the cryptocurrency along with the lower boundary’s support. Tezos may be showing signs of a price rally and a bullish bias can be expected from the cryptocurrency.
Tezos (XTZ) price prediction
Tezos cryptocurrency is expected to climb upwards in the longer timeframes; however, the growth may not be as substantial. Wallet Investor predicts the one-year price to be at $4.12 while the 5-year forecast places XTZ at $10.39. Digital Coin price predicts that Tezos will be priced at $4.46 by the end of 2021. XTZ coin will be operating at $9.59 in 2025 while the price at the end of 2028 will be skirting $13.