In this Tezos (XTZ) price forecast 2024, 2025-2030, we will analyze the price patterns of XTZ using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Tezos (XTZ) Current Market Status
What is Tezos (XTZ)
Tezos (XTZ) is the native cryptocurrency of Tezos. Tezos is an open-source, smart contract-based blockchain that facilitates the creation and development of smart contracts and dApps.
The blockchain is secured by a modified Proof of Stake (PoS) called Liquid Proof of Stake (LPoS). Transactions are added to the blocks and validated by a group of validators called bakers and endorsers. Bakers are those who stake XTZ tokens and create new blocks. While endorsers validate the blocks.
Users can stake Tezos (XTZ) tokens to validate blocks and secure the blockchain. Token holders receive voting rights and participate in the network’s management.
Tezos 24H Technical
(Source: TradingView)
Tezos (XTZ) Price Prediction 2024
Tezos (XTZ) is ranked 67th on CoinMarketCap in terms of its market capitalization. The overview of the Tezos price forecast for 2024 is explained below with a daily time frame.
XTZ/USDT Closing Bottom Pattern (Source: TradingView)
In the above chart, Tezos (XTZ) has laid out a closing bottom pattern. The price movements form a pattern that looks like an arc and is therefore also known as the saucer bottom pattern. Generally, the closing bottom pattern indicates a long-term price reversal. This pattern also highlights the changes in market sentiment as the trend appears to be shifting from bearish to bullish. Investors should generally remain cautious and time the market well. If the price breaks and moves beyond the resistance level, it will enter a confirmed bullish trajectory.
At the time of analysis, the price of Tezos (XTZ) was recorded at $1.07. If the pattern trend continues, the price of XTZ may reach the resistance level of $1,224 and $2,388. If the trend reverses, the price of XTZ may drop to the $0.619 support.
Tezos (XTZ) Resistance and Support Levels
The chart below gives the possible resistance and support levels of Tezos (XTZ) in 2024.
XTZ/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Tezos (XTZ) for 2024.
XTZ Resistance and Support Levels
Tezos (XTZ) Price Prediction 2024 – RVOL, MA and RSI
The technical analysis indicators such as relative volume (RVOL), moving average (MA) and relative strength index (RSI) of Tezos (XTZ) are shown in the chart below.
XTZ/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can draw the following conclusions about the current Tezos (XTZ) market in 2024.
Tezos (XTZ) Price Prediction 2024 — ADX, RVI
In the chart below, we analyze the strength and volatility of Tezos (XTZ) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
XTZ/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can draw the following conclusions about the price momentum of Tezos (XTZ).
Comparison of XTZ with BTC, ETH
Now let’s compare the price movements of Tezos (XTZ) with those of (BTC), and (ETH).
BTC vs ETH vs XTZ Price Comparison (Source: TradingView)
From the above graph, we can interpret that the price action of XTZ is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of XTZ also increases or decreases respectively.
Tezos (XTZ) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us forecast the price of Tezos (XTZ) between 2025, 2026, 2027, 2028, 2029 and 2030.
Closure
If Tezos (XTZ) establishes itself as a good investment in 2024, this year will be favorable for the cryptocurrency. Finally, the bullish Tezos (XTZ) price forecast for 2024 is $1,504. In comparison, factoring in unfavorable sentiment, the bearish Tezos (XTZ) price forecast for 2024 is $0.756.
If the market momentum and investor sentiment rises positively, Tezos (XTZ) could reach $5. Furthermore, with future upgrades and advancements in the Tezos ecosystem, XTZ could surpass its current high (ATH) of $9.18 and mark its new ATH.
This content was originally published by our partners at The News Crypto.
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