Lorenzo Stroe
Independent Analyst
- Tezos price is trading right below a critical resistance level at $3.43.
- The digital asset faces a lot of selling pressure in the short-term according to a significant indicator.
- XTZ might be poised for a pullback before another leg up resuming the uptrend.
Tezos has been trading in a robust uptrend since December 24, 2020, but has topped out at a crucial resistance level several times. It seems that the digital asset is bound to see another correction as a critical indicator has flashed a sell signal.
Tezos price faces a lot of pressure in the short-term
On the 12-hour chart, the TD Sequential indicator has just presented a sell signal right below a crucial resistance level at $3.43 formed since August 2020. Tezos has been unable to close above this critical point for over six months.
XTZ/USD 12-hour chart
As the TD presented a sell signal, Tezos price is bound for another rejection from the critical resistance level and can quickly fall towards the psychological support level at $3 in the short-term.
XTZ/USD 12-hour chart
However, it’s important to note that Tezos is currently inside a robust uptrend across most time frames and can invalidated the sell signal by climbing above the resistance level at $3.43. Additionally, on the 12-hour chart, Tezos has also formed an ascending parallel channel. A breakout above $3.43 will drive Tezos price towards the upper trendline of the pattern at $3.7.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto fraud soars as high-risk addresses on Ethereum, TRON networks receive $278 billion
The cryptocurrency industry is growing across multiple facets, including tokenized real-world assets, futures and spot ETFs, stablecoins, Artificial Intelligence (AI), and its convergence with blockchain technology, as well as the dynamic decentralized finance (DeFi) sector.
Bitcoin eyes $100,000 amid Arizona Reserve plans, corporate demand, ETF inflows
Bitcoin price is stabilizing around $95,000 at the time of writing on Tuesday, and a breakout suggests a rally toward $100,000. The institutional and corporate demand supports a bullish thesis, as US spot ETFs recorded an inflow of $591.29 million on Monday, continuing the trend since April 17.
Meme coins to watch as Bitcoin price steadies
Bitcoin price hovers around $95,000, supported by continued spot BTC ETFs’ inflows. Trump Official is a key meme coin to watch ahead of a stakeholder dinner to be attended by President Donald Trump. Dogwifhat price is up 47% in April and looks set to post its first positive monthly returns this year.
Cardano Lace Wallet integrates Bitcoin, boosting cross-chain capabilities
Cardano co-founder Charles Hoskinson announced Monday that Bitcoin is integrated into the Lace Wallet, expanding Cardano’s ecosystem and cross-chain capabilities. This integration enables users to manage BTC alongside Cardano assets, providing support for multichain functionality.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
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.