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Tezos Price Analysis: XTZ/USD has broken the psychological 3.00 level despite being lower on the session

  • Despite trading 0.34% lower on Thursday XTZ/USD is holding above the 3.00 area.
  • There is a resistance level at 3.06 that has been pretty strong in the past.
Tezos Price Analysis: XTZ/USD has broken the psychological 3.00 level despite being lower on the session
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XTZ/USD daily chart

Tezos is trading in an uptrend at the moment and the price has printed above the red resistance zone. The 3.06 resistance has been used to good effect in the past and the market turned there on 30th April. 

The pair is also trading above both moving averages (55 and 200) which is a bullish sign. The Relative Strength Index indicator is also looking positive above the 50.00 level and there is some space to move to the upside. The MACD is also looking positive as the histogram has turned green and the signal lines are still above the mid-point. 

Tezos breaks 3.00

Author

Rajan Dhall, MSTA

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

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