Tezos prices have been trading in a bullish trend since the beginning of the year, with prices rising from a low of $1.32 to the current high of $3.43. The overall trend is still very much intact and there is a strong possibility that prices could continue moving higher in the short term. The next major resistance area for XTZ prices is at the $3.45 level, which is where the 100-day moving average currently sits. A break above this level could see prices move towards the $3.50 level.
Tezos prices have been on a tear over the past 24 hours, rising from a low of $3.34 to a high of $3.43. Prices are currently trading at $3.42, which is just below the major resistance at $3.43. Tezos market capitalization is currently at 3 billion with a 24-hour trading volume of $73,222,919.87.Tezos overall price movement has seen a continuation of the bullish trend that has been in place since the opening of the daily trading session.
Tezos price analysis shows the bulls have come together to push prices higher after a period of consolidation. Further upside is anticipated as the MACD line is headed towards the zero line, an indication of a continued bullish trend . Prices are also trading well above the 200-day moving average, which is another indication of a continued uptrend. However, prices could face some selling pressure at the $3.45 level, which is where the 100-day moving average currently sits. The RSI indicator is currently at the 67 level, which shows that there is still some room for prices to move higher before becoming overbought.
Conclusion Tezos price analysis for today reveals the market has the potential to rally towards the $3.45 level in the short term as the bulls maintain control of the market. Prices could face some selling pressure at this level, which is where the 100-day moving average currently sits. However, a break above this level could see prices move towards the $3.50 level.