https://ift.tt/o1O7U6ht5 price analysis: XTZ breaks at $3.8 as bullish succession continues

TL;DR Breakdown

• The Tezos price analysis is bullish.
• Price has increased up to $3.8 today.
• Support for XTZ is present at $3.4.

The Tezos price analysis is bullish today as it is indicating an improvement in price as the bulls are continuing ruling the market for XTZ despite the broader crypto market remaining bearish. The past week proved extremely profitable for the coin as the price recovered significantly from the $2 range to the $3 range.

For today the trend is also in favor of buyers as the cryptocurrency price is now touching $3.8 after the recent bullish activity. Previously the trend was downwards, and the crypto pair was on the downslide since 4th October 2021.

XTZ/USD 1-day price chart: XTZ bulls mark 3.38 percent gains overnight

The one-day Tezos price analysis is going in the bullish direction again after a successive uptrend. The price has increased up to $3.8 today, which can count as a huge accomplishment for the cryptocurrency as it has gained 3.8 percent value overnight.

Further advancement is to be expected as the bullish momentum is strengthening with each passing day. The moving average (MA) indicator is also moving upwards, which is a positive sign and is settled at the $3.33 position for the day.

As the volatility has slightly decreased in the last 24-hours, the Bollinger bands’ values have changed as well. Now, the upper value is placed at $4.43, representing the strongest resistance, while the lower value is found at $2.53, representing the strongest support for XTZ. The Relative Strength Index (RSI) has also improved according to the situation as well and has moved up towards index 53 and has now flattened up, which hints at bearish pressure over the price function.

Tezos price analysis: Recent developments and further technical indications

The 4-hours Tezos price analysis is following the bullish trend as the price has increased again during the last four hours. The price levels are going up after dodging past a bearish feat that took place in the past few hours. Currently, the price is settled at the $3.8 mark and is expected to go a bit up from here towards a higher position.

The moving average is trading at $3.75 because of the constant price fluctuations. The volatility is towards the increasing side as the Bollinger bands are widening. The upper Bollinger band has adjusted itself at $3.96, and the lower Bollinger band at $3.23. The RSI score is going up as well because of the recent uptrend and has reached index 65.

Tezos price analysis conclusion

The Tezos price analysis suggests the price is going high today as it has been able to reach the $3.8 level during the last 4 hours. The price has improved significantly if we compare it with the last week’s statistics. There are further chances of recovery for the bulls as the support is quite strong, and traders can expect XTZ/USD to continue upside for the next 24 hours.

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