Tezos(XTZ)/USDT Technical Analysis: 15 December 2021

Tezos(XTZ)/USDT Technical Analysis at a Glance

Tezos had a pretty good start in 2018 as it reached its tip just above $12 and within no time fell drastically to register the lowest levels around $0.31 within a year. Since then the asset hovered within narrow regions, until the beginning of 2021 which kickstarted the bull run. 

The price maintained a constant uptrend flowing within a constant uptrend channel to reach its highs around $8.4. Yet again it trembled down soon but remained strong above $2. And with a strong flip, the asset again climbed high to hit the yearly highs around $9.17. Woefully, the bears took back control and continued to hold the kingly power.

Tezos(XTZ) Technical Indicators

Tezos crypto price is among the assets which failed to form a new ATH amid the recent bull run of 2021. Assets like Litecoin, Cardano, etc also reached the highs while Tezos, XRP, etc still await the event. And hence many more assets like Solana, Terra, Polygon, gained the spot in the top 10. However, the asset is attempting to quickly recover the losses and break through the bearish divergence very soon.

Bollinger Bands

The price is hovering along with the lower bands in the short term, attempting to range above the middle bands. In the short term, the Bollinger bands are pretty squeezed indicating less volatility and the price smashed the lower bands and rebounded notably. 

Relative Strength Index(RSI)

The RSI in the long term has followed a subsequent downtrend since the beginning of October and since then the RSI is consolidating along with the lower levels. However, with a notable flip, the RSI is trying to follow an uptrend yet not validated at the press time. In the short term, after hovering along with the average levels, a bearish divergence is visible and hence a short term pullback is quite possible.

Moving Average(MA)

In the short term, the 100-day MA crossed the 200-day MA to move towards the south and hence displaying a huge sell signal recently. However, the rebound was quick but is testing the crucial resistance levels at 100-day MA. A similar scenario is also witnessed in the long-term chart. 

MACD

MACD in the long term could display a bullish sign as the Signal line is all about to cross the MACD line shortly. However, the intensity lags behind and hence the spike could also be a minimal one. In the short term, a notable selling pressure appears to be mounting on the Tezos ecosystem. And hence the bearish trend could continue for some more time. 

Tezos(XTZ) Price Analysis For The Week

Tezos price began the monthly trade on a bearish note but very soon flipped the trend to go extremely bullish after a couple of days. However, the attempt of breaking through the descending channel went down, yet the asset appears still on track to achieve levels above the channels. However, the price remains below the 200-day MA levels which could be a little worrisome for the rally.

Source: Tradingview Date: 15-12-2021 Time: 4:15pm

• The XTZ price is following a descending channel since the beginning of October and also faced a couple of failed attempts to break through the channel
• Tezos crypto bounced off on hitting the crucial support levels around $4 manifesting the possibility of an upcoming uptrend very soon
• The main concern lies around the depleting trading volume which indicates the loss of traders interest or depleting buying volume
• However, the bulls remained a little relaxed but not gone onto a passive mode and could jump in action any time from now

Additional Read: Tezos(XTZ) Price Prediction

Tezos(XTZ) Price Analysis for Today: 15 December 2021

Tezos coin ended the previous day’s price on a bullish note, flipping from $4.3 levels. No doubt the price is hovering around a similar level now, but the asset is expected to regain the lost levels above $4.6 very soon. Tezos price today is around $4.31 with a slight drop of 0.99% compared to the previous day. 

Where to buy Tezos(XTZ)

Tezos is one of the popular cryptocurrencies and hence widely available for trade on most of the exchanges. Yet, if you are more interested in investing in Tezos and searching for a suitable platform to buy XTZ crypto, then CoinDCX is the best-suited platform. It is the most trusted cryptocurrency exchange in India offering a wide range of crypto assets at affordable rates. Download CoinDCX mobile app instantly and start your crypto investment journey.  

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