The Tezos market has continued to exhibit notable bullish progress for some time now. Today’s session, in particular, has delivered substantial gains, positioning the token as the second most profitable asset on today’s list of top crypto gainers.
XTZ Statistics
Current Price: $0.7822
Market Capitalization: $840.65M
Circulating Supply: 1.07B
Total Supply: 1.05B
CoinMarketCap Rank: 91
Key Price Levels
Resistance: $0.8000, $0.9000, $1.0000
Support: $0.7000, $0.6000, $0.5000
Tezos Bulls Are Charging Furiously
Price activity on the XTZ/USDT daily chart has been consistently hugging the upper boundary of the Bollinger Bands (BB) indicator. Today’s session, in particular, has brought significant gains, with the active price candle showing an impressive 12.49% increase.
This candle extends beyond the upper band of the BB indicator, signaling strong bullish momentum. Likewise, the Smoothed Rate of Change (SROC) indicator line has risen above the equilibrium level and continues to trend upward. This confirms that bullish sentiment remains firmly in control.
XTZ Buyers Sustain Bullish Pressure
In the ongoing 4-hour session, the Tezos market continues to reflect the bullish sentiment observed on the daily chart. The most recent candle also extends beyond the upper band of the BB indicator.
However, the widening divergence between the upper and lower bands of the BB indicator appears to be slowing, which could hint at a short-term consolidation. Despite this, the SROC curve remains above the equilibrium level and continues to rise. Therefore, it seems likely that the market may soon breach the $0.8000 resistance level and potentially advance toward the $1.00 mark.
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