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The Tezos token has appeared in the second spot on today’s list of top crypto gainers after recording a 10.12% price increase. Price action on the token’s chart suggests that further gains may follow.
Tezos Market Statistics
Current Price: $0.8955
Market Capitalization: $934.65M
Circulating Supply: 1.05B
Total Supply: 1.07B
CoinMarketCap Rank: 83
Key Price Levels
Resistance: $1.000, $1.500, $2.000
Support: $0.8000, $0.6000, $0.4000
XTZ Set to Maintain a Strong Position
Although Tezos’ price action has experienced a notable bearish contraction in the ongoing session, the token continues to trade above the middle band of the Bollinger Bands (BB) indicator. The latter part of the BB indicator shows a sideways path, while the latest price candle on the chart indicates that trading activity remains steady.
The Stochastic Relative Strength Index (SRSI) indicator lines recently formed a crossover that was expected to be bearish. However, the lines have since shifted sideways, suggesting that bullish forces are becoming more prominent in this market and may soon guide its direction.
Tezos Buyers Are Keeping the Lead
On the XTZ 4-hour chart, it is evident that bullish forces have faced notable resistance from bearish pressure. Nevertheless, the latest price candle remains green despite the contraction. The BB indicator shows a slight upward slope, indicating that bullish sentiment is still strong.
Additionally, the lines of the SRSI indicator continue to move sharply upward. Consequently, it appears that buyers may sustain upward momentum, potentially driving prices toward the $1.100 level.
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