• Tezos price shot up by more than 9% over the last few days, bringing the altcoin to $1.44.
  • Despite the week-long green candles, XTZ is not indicating excessive volatility, which is a good sign.
  • If XTZ does not reclaim $1.6, its growth might get stumped, keeping the altcoin closer to recent lows of $1.24.

Tezos price formed a bearish pattern over the last couple of months and continues to follow. This pattern is not good for the investors as XTZ’s price will remain confined within the current resistance and support levels. However, should it breach this resistance, the altcoin will be invalidating a six-month-long downtrend line.

Tezos price takes a hike

Tezos price went up by 9.38% in the span of seven days, resulting in the altcoin trading at $1.44. Most of the other cryptocurrencies, such as Dogecoin, Ethereum, etc., noted rallies worth more than 15%. Thus, this relatively lower growth might not be able to help Tezos achieve its next critical target.

Currently testing a downtrend line as resistance, XTZ has been stuck under for about six months now. Before the crash of May, this trendline acted as support for the altcoin since September 2021, however, in the last few months, every attempt at breaching it has failed.

TradingView ChartXTZ/USD 1-day chart

Going forward, the chances of breaking above this line seem bleak since Tezos is not observing any major bullish signal. The Bollinger Bands, at the moment, are converging, which means Tezos is not experiencing severe volatility. This will keep price swings under control, which usually is a positive sign but it could also restrict XTZ from observing an upswing.

TradingView ChartXTZ/USD 1-day chart

Additionally, despite the recent 9% rise, Tezos price was unable to turn the 50-day (red) and the 100-day (blue) Simple Moving Averages (SMA) into supports.

XTZ’s support system

The $1.24 mark, mid-October swing low, acts as the next crucial support level for the altcoin, which was last tested back in June.

TradingView ChartXTZ/USD 1-day chart

The recent bullishness observed in the crypto market when the total market capitalization almost hit $1 trillion could prevent excessive drawdown in the case of Tezos. But when it comes to a price rise, XTZ might have to wait for a while longer.

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Ripple risks extending losses despite Ripple-SEC motion to release escrowed $125 million

Ripple risks extending losses despite Ripple-SEC motion to release escrowed $125 million

XRP comes under immense pressure, falling toward $2.09 as Israel and Iran escalate conflict. Ripple and the SEC file a joint motion requesting the release of $125 million held in escrow.

Crypto Today: Bitcoin, Ethereum, XRP clamber for support amid escalating volatility on Israel-Iran tensions

Crypto Today: Bitcoin, Ethereum, XRP clamber for support amid escalating volatility on Israel-Iran tensions

The cryptocurrency market has been hit by a sudden wave of extreme volatility, triggering widespread declines as global markets react to tensions between Israel and Iran.

Sui Price Forecast: Sui eyes triangle fallout below $3 as Open Interest, TVL plunge

Sui Price Forecast: Sui eyes triangle fallout below $3 as Open Interest, TVL plunge

Sui (SUI) edges lower by over 5% at press time on Friday, concurrent with the broader crypto market crash due to the escalation of the conflict between Israel and Iran.

Bitcoin eyes a drop toward $100,000 amid cautious sentiment as Middle East tensions escalate

Bitcoin eyes a drop toward $100,000 amid cautious sentiment as Middle East tensions escalate

Bitcoin price edges below $105,000 on Friday after falling 4% over the last two days. Market sentiment sours as conflict in the Middle East escalates, with over $1.15 billion in liquidation across crypto markets.

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP