https://ift.tt/rMlAmVf price analysis: XTZ price recovers as bulls get closer to $4.38

TL;DR Breakdown

• The Tezos price analysis is bullish.
• Resistance for XTZ/USD is present at $4.38.
• Support for XTZ is present at $4.21.

The Tezos price analysis shows a bullish daily trend. The bulls have successfully maintained their stronghold and made sufficient gains during the past weeks. The price has also increased considerably during the last twenty-four hours and is now at the $4.32 mark. The past few hours have been highly encouraging for buyers as the price glided past the $4.24 threshold. The trend has been continuous for today as well, as the bulls extend their influence.

XTZ/USD 1-day price chart: Price moving unboundedly towards its target of $4.38

The 24-hour Tezos price chart shows encouraging signs for the cryptocurrency as the price follows a bullish trend. The price enjoyed sufficient momentum during the day, propelling it to the $4.32 level.

The price has continuously traded above the moving average (MA) value, i.e., $3.90, which is due to the great bullish momentum. In comparison, the Bollinger bands average is still at a lower height as it holds up at $3.46.

As the volatility in the price chart swings in the bullish direction, the Bollinger bands have also changed their values. Now, the upper band stands at the $4.38 mark representing the resistance, while the lower band is at the $2.55 mark representing the strongest support. The Relative Strength Index (RSI) score is at 63 and is expected to go higher than these levels as well.

Tezos price analysis: Recent developments and further technical indications

The 4-hour Tezos price analysis is moving in the bullish direction and is properly represented by the price, which continues to increase. The only significant resistance was at the $4.24 resistance level, which the bulls smashed through during the last eight hours. The price has increased to $4.32, which is even above the upper limit of the Bollinger bands, i.e., $4.31. As the volatility increases, it may provide more opportunities to the bulls.

The Bollinger bands are supported at the $4.03 average, while the lower value is present at $3.74. The RSI score is going on 70 for the 4-hour price chart, which is right at the border of the overbought zone.

Tezos price analysis conclusion

The price is going up once again, according to the latest Tezos price analysis. The XTZ/USD value is $4.32 at the time of writing and is expected to increase further in value in the short term as well, as the bulls have successfully turned the price trend line upwards since 28th January.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.