|

Tezos Price Forecast: XTZ enters reversal model after explosive 40% sell-off

  • Tezos price suffered a massive 40% sell-off down to $2.9.
  • The digital asset had an excellent recovery jumping by 33% above a key support level.
  • The next target for XTZ bulls is located at $4.4 in the short-term.

Like the rest of the cryptocurrency market, Tezos price suffered a flash crash losing about 40% of its value in less than 48 hours. However, XTZ bulls managed to defend a crucial support level and aim for a significant rebound.

Tezos price aims for $4.4 in the short-term

On the 9-hour chart, Tezos price has just climbed above a crucial resistance level at $3.7 which coincides with the 100-SMA level. If XTZ bulls can hold this key point, Tezos price could easily jump towards $4.4 which is the 50-SMA level. 

xtz price

XTZ/USD 9-hour chart

On the other hand, failure to hold the 100-SMA support at $3.7 would be bearish and likely to take Tezos price down to the psychological level at $3, which converges with the 200-SMA support level. 

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

XRP defends $1.30 support as Ripple partners with Arf to bring RLUSD settlement liquidity to XRPL

Ripple holds near recently confirmed support at $1.30 on Friday, as bulls eye a short-term recovery toward $1.40. The remittance token’s upside remains capped by structural levels, suggesting recovery would depend on whether buyers can sustain momentum.

Bitcoin Weekly Forecast: BTC extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot ETFs recording $442.67 million in net inflows through Thursday.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

Pi Network holds modest gains as mixed technicals curb upside

Pi Network (PI) price is up 2% on Friday, showing signs of recovery while the broader cryptocurrency market faces near-term weakness. The crypto market sentiment eases to neutral from bullish amid rising long liquidations.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.