Tezos Nearing a New High: What's Next for XTZ?

2 hours ago

Tezos (XTZ) displays an upward recovery after a long downtrend. Can XTZ reach a new all-time high?

Current Price Dynamics of XTZ

Tezos is currently trading at $1.1803 following a 47% surge overnight. Starting a bullish turnaround from $0.594, XTZ has risen nearly 100%, reclaiming the $1 psychological mark and surpassing the 23.60% Fibonacci level at $1.119.

XTZ Technical Indicators

EMA: The uptrend in the 50-day EMA supports the chances of bullish crossovers. MACD: The MACD and signal lines regain positive alignment with an increase in green histograms.

Probability of a New All-Time High for XTZ

If the XTZ maintains a closing price above the 23.60% Fibonacci level, the bullish trend might exceed the 200-week EMA. Fibonacci levels suggest a potential price of $18 if it breaks past its previous all-time high of $9.145.

As the broader market recovers, XTZ might break through key resistance levels. Whether the reversal rally helps reach a new high remains to be seen.

Other news

MicroStrategy's Bold Bitcoin Bet: Raising $1.75 Billion via 0% Convertible Notes

MicroStrategy seeks to expand its Bitcoin assets by issuing $1.75 billion in bonds. BTC as a primary financial asset expansion.

a few seconds ago

Hamster Kombat Game to Revive Activities Despite User Drop

Hamster Kombat plans to boost its active audience and attract new players after a decline.

a few seconds ago

Russia Regulates Cryptocurrency Taxation with a Cap of 15%

Russia has passed laws on crypto taxation, recognizing it as property. Income taxed up to 15%.

21 minutes ago

Saakuru Labs and Kingdom Story: A New Era of Web3 Gaming

Saakuru Labs and Kingdom Story: Heroes War partner to bring a new era of Web3 gaming with unique strategy and NFTs.

21 minutes ago

Bitcoin and Rising Volatility: New Records and Market Concerns

Cryptocurrency market in tension: open interest in Bitcoin hits record levels, stirring both enthusiasm and caution.

22 minutes ago

FET Token: Potential for Growth After Decline

FET token shows recovery signs after losses. Significant price movement potential. Key factors and technical analysis.