The Tezos price (XTZ) is now in the focus of the crypto news after a previous rally which brought the coin above $1.50. As we can see now, the Tezos price nears the $2 mark and may be ready to pursue further gains ahead.
Tezos is trading around 1% higher on Thursday but the volume is slightly dead, while the price is converging into a triangle pattern and the key $1.70 level looks vulnerable. While the markets today are still, a potential break in either direction could tell us about the future trajectory of the price.
The Tezos price nears $2 and as it stands, XTZ is above both the 55 and 200 moving averages and this could be something that is considered bullish. The more recent price action has been bullish too, with the price making higher low waves. One of the concerns that bulls may have now is the lack of volume.
As we can see from the Tezos news now, the volume is not that impressive – there have been bigger volume spikes than the buy-side ones. Away from this, the structure of the chart is better than some of its counterparts. The holders of Tezos should be happy unless one of the support zones on the chart below are broken, especially the one around the $1.45 level.
Tezos (XTZ) is known as one of the altcoins that had gains in 2020 and was one of the most impressive coins for bulls and prominent analysts. Right now, the coin is trading in a safe zone and following the bloodbath on the markets earlier this month, is doing everything to initiate a bullish run and gain a positive momentum.
The price of BTC today is at $6,681 with a 0.68% gain on the day. The ETH price is at $136 now with similar gains, while XRP is leading the top 5 with a 6.41% gain and a new price at $0.1722. The XRP price looks very promising for the bulls right now – many analysts think that XRP will break out soon and post even more gains.
All in all, there are mostly greens on the market today which means that the Tezos price nears new levels and could soon be expanding its gains. For many, this is a great time to buy and benefit from the crypto market in the long run.
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