TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Tezos Price Analysis: Smooth channel formation shows support ahead of 2.00 level

  • Tezos trades nearly 2.5% higher as cryptocurrencies rebound on Tuesday.
  • There is a channel formation on the 4-hour chart that has been well respected.
Tezos Price Analysis: Smooth channel formation shows support ahead of 2.00 level
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XTZ/USD 4-hour chart

Tezos is trading nearly 2% higher on Tuesday as sentiment improves following the poor session on Monday for the crypto majors. Its seems 2.00 is a tough nut to crack for the bear as the psychological support level has been evaded once again. On the last down wave, the price found support at the 55 exponential moving average (EMA). This is not the first time the EMA has been used as a support or resistance level as you can see from the chart.

Looking at the technical indicators, the relative strength index indicator has moved back above the 50 mid-line in a bullish move. The key part of the chart is the channel formation, the price has moved smoothly through the chart structure and a break in either direction could give us some great clues on the future direction for the pair, 

Tezos 4-hour channel formation

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

PI recovers from slump as investors buy the dip

PI recovers from slump as investors buy the dip

Pi Network rebounds by 2% at press time on Tuesday, regaining strength after a three-day decline. A renewed interest among investors, evidenced by outflows from Centralized Exchanges, backs the short-term recovery.

Hedera extends losses as bearish sentiment dominates

Hedera extends losses as bearish sentiment dominates

Hedera price extends its losses after falling nearly 4% the previous day. Weakening on-chain and derivatives data support a bearish outlook alongside an unfavourable technical outlook, suggesting a deeper correction for HBAR.

Top Crypto Losers: BCH, HYPE, PUMP extend losses as Bitcoin drops below $64,000

Top Crypto Losers: BCH, HYPE, PUMP extend losses as Bitcoin drops below $64,000

Altcoins, including Bitcoin Cash, Hyperliquid, and Pump.fun, are leading losses over the last 24 hours as Bitcoin falls below $64,000 on Tuesday. The technical outlook for BCH, HYPE, and PUMP flags downside risk amid broader market selling.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: No recovery in sight

Bitcoin: No recovery in sight

Bitcoin (BTC) price continues to trade within a range-bound zone, hovering around $67,000 at the time of writing on Friday, and falling slightly so far this week, with no signs of recovery.