Tezos Price Prediction: XTZ Heading for $1.00, Delivers Breakout

• 1 Tezos token has been gaining over the last few sessions.
• 2 XTZ price sharply crashed above the resistance zone of $0.950.

Tezos price exceeded the resistance mark of $0.950 and broke out in the recent sessions. XTZ token has diminished the sellers’ grip and is heading to the swing high and psychological round mark of $1.00, which bulls will catch soon. Moreover, the price action highlights bullish momentum. XTZ price pulled back sharply from the 100-day EMA. Follow-on buying was witnessed in the past few trading sessions.

Tezos price has approached the bullish trajectory, exceeding the significant moving averages. Furthermore, the charts reveal the buyers’ accumulation, and the higher highs pattern. The token has climbed above the 61.8% Fibonacci retracement zone and is on the verge of the upper bollinger band.

The live price of the Tezos token is $0.9772, with an intraday gain of 6.67%, highlighting bullishness on the chart. Moreover, the trading volume increased by 4.67% to $41.39 Million. However, the pair of XTZ/BTC is at 0.0000221 BTC, and the market cap is $937.23 Million. Analysts have maintained a bullish rating and suggest a high potential to surpass $1.00 in the following sessions.

Tezos Delivers Breakout on Daily Chart

Source: Tezos Price Chart by TradingView

On the daily chart, Tezos price crossed the critical hurdle of $0.950 and is now in uncharted territory, where bulls are looking aggressive. The bulls have persisted in extending the gains and aim to make it to the $1.00 mark. Additionally, the sellers got trapped, and a short covering rally was witnessed in recent sessions.

The RSI curve stayed near 70, signaling a positive divergence and highlighting the bullish momentum. The MACD indicator shows a bullish crossover and formed green bars on the histogram, delivering bullish bias and investor interest.

Weekly Charts Displays Massive Recuperation

Source: Tezos Price Chart by TradingView

On the weekly chart, Tezos token price healed from the lows of $0.600 and surged by over 60% last week. The price action shows a positive outlook as buyers continue to dominate without any sign of selling pressure.

Summary

Tezos price exceeded the resistance mark of $0.900 over the last few sessions. Moreover, the price action displays the bullish momentum and suggests that XTZ price may surpass the immediate swing of $1.00 in the following sessions. Furthermore, the Tezos token price is in a strong uptrend. It is expected to climb higher and may reach the blue sky zone above $1.20 soon. Technicals confirm the bullish trend.

Technical Levels

Support Levels: $0.900 and $0.800

Resistance Levels: $1.00 and $1.15

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

Proofreader

Source