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Price activity in the Tezos market has continued to climb a steeper bullish ladder, as the token price increased by roughly 4% in today’s trading activity. With such movement, this token has reached a price mark last seen in the first quarter of last year (2023). Let’s examine the chances that the upward climb in this market will continue.
Tezos Statistics:
Current XTZ Value: $1.196
Tezos Market Cap: $1,153,317,070
Tezos Circulating Supply: 967,307,579
XTZ Total Supply: 988,253,012
XTZ CoinMarketCap Ranking: 61
Key Price Levels:
Resistance: $1.196, $1.200, and $1.300
Support: $1.150, $1.100, and $1.050
Tezos Bulls Seem Prepared to Drive Prices Higher with Renewed Vigor
In the XTZ daily market, price action makes progressive higher lows from a much larger point of view. However, in more recent times, the trading pattern in this market suggests that bullish momentum has increased in intensity as price action has assumed a steeper climb.
Price activity in this market started advancing upward above the Guppy Multiple Moving Average (GMMA) curves.
The printed profits in the ongoing session have been the biggest since the past two sessions, above the GMMA curves. Furthermore, it could be seen that the Stochastic Relative Strength Index (RSI) indicator lines had earlier snapped out of a trend reversal move and have continued to advance into the overbought region. This signals that buyers are still active in the market and will likely push prices higher.
XTZ Is Determined to Keep Climbing Up a Bullish Ladder
In the past three trading sessions on a 4-hour Tezos price chart, only green price candles have appeared. This has seen price candles rebound upward off the floor of the drawn upside-sloping price channel on this chart. The ongoing session has remained under the grip of bulls, despite the serious engagement between the bulls and bears in this market, as portrayed by the candle’s body size.
Also, trading continues to occur above the GMMA curves on this chart as well. Likewise, the RSI lines are still maintaining an upward trajectory following the recently delivered bullish crossover. Consequently, price action in this market has the $1.250 mark clearly in sight. However, traders could choose to be a bit more ambitious by picking a target at the $1.300 mark.
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