AltcoinPrice Analysis

Tezos Price Analysis: Will the support zone at 0.96 drag XTZ into Bullish Trend?

Tezos Price Analysis : The bearish trend is active from the previous 30 days and coin still has not shown some satisfactory movement. However, XTZ has made slight progress in the year-to-date chart. The analysts have mixed views about the future price of XTZ.

Tezos News and Events

The hackathon of Tezos is going in Eastern European to discuss the ideas and the application of its blockchain technology.

Tezos Korea has signed an agreement with the institute of blockchain to work on financial institutions and various other businesses.

Tezos Korea has signed MoU with @hexlant, a prominent Institute of Blockchain Technology, to discuss technical cooperation on numerous businesses such as Tezos nodes operation, custody business with financial institutions and etc. EXCITED!

Current Statistics of Tezos

  • Market Capitalization: $646,396,138 USD and 62,066 BTC.
  • 24-hours Volume: $13,157,264 USD and 1,263 BTC.
  • Circulating Supply: 660,373,612 XTZ

Tezos XTZ Price

The current price value of Tezos (XTZ) is $0.978 at the time of writing with -4.53% change in 24-hours.

Year-to-date Performance

The value of coin increased since the beginning of 2019 you can see below in the year to date chart. It was dumping around the figure of $0.40 from the start of January to the middle of March.

The trend line showed a great rally and marked its highest point of 2019 at $1.77 on the 19th of May. After reaching the highest peak of the year it then went into the shadows of bearish clouds. However, the price has remained above $0.8.

Tezos Price Prediction

The value showed a great movement at the start of August but suddenly bend its movement in a downward direction. The trend line is in the bearish trend as you can see in the below chart. The coin will face two support levels that have the capability to bounce the value upward.

The first support level is at starting at 0.96 while the second one is at 0.83.There are chances that the price will move up and can easily cover the distance to $1.4.

Conclusion

The value is continuously dumping but it is expected that two support levels at 0.96 and 0.83 will act as hard walls and bounce the trend line in the bullish zone.

Davis Byrne

Davis Byrne got into cryptocurrency world since 2013. He contributes technical chart-based price updates and price analysis on world's leading digital currencies.

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