Crypto Price Analysis

Tezos Price Analysis: XTZ Show More Signs of Recovery Peaks at $2

Tezos is one of the top gainers over the last 24 hours. The asset saw notable price increases during the previous intraday session. It closed at $1.88 with a more than 3% increase during the period under consideration.

The uptrend continues into the current 24-hour session as we observed that it made an attempt above $2. It peaked at $2.03 but met correction and is currently exchanging at $1.99. The token may see more price increases in the coming days.

One of the many indications of is the reading of the Moving Average Convergence Divergence. We observed that the 12-day EMA is currently on an uptrend and just intercepted with the 26-day EMA to form a bullish divergence.

We also observed that XTZ is trading above its first pivot resistance which is another step in a good direction. Based on this metric, the token is certified bullish and may continue to see more price increases.

Tezos Will Look to Stabilize Above $2

One of the key levels to watch at this time is the $2 level. Since experiencing rejection at the mark, indicators suggest that we may see a retest of this vital mark.

To achieve this, the bulls will have to defend the $1.9 support as it will help in its bid above the highlighted mark. However, it is not one the toughest barriers and may flip if the downtrend continues.

One of the vital levels that may hold is the $1.74 support. It has survived several attempts and may be one to bank on market conditions worsens. Another is $1.6 as we may see a retest if $1.74 breaks.

On the part of the resistance, one key resistance to seal XTZ trading above $2 is the $2.2. It is one of the toughest as most of the previous attempts failed. However, in a build-up to flipping this mark, we may see tezos trade above $2.1 for an extended period.

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