In this Tezos technical analysis, we will examine the current price action, trading volume, key levels and indicators for XTZ-BTC. Tezos (XTZ) is a proof-of-stake blockchain that focuses on decentralized governance and on-chain upgradability. The Tezos network utilizes a unique consensus algorithm called Nomination and Voting, which allows holders of XTZ tokens to vote on proposed upgrades to the protocol. This decentralized governance model enables the community to collectively steer the development of the blockchain without relying on a central authority.
Tezos Price Overview:
As of October 02, 2023, Tezos is trading at approximately 2e-05 BTC. Let’s dive into the detailed price action for XTZ-BTC:
| Metric | Value |
|---|---|
| Open (O) | 3e-05 |
| High (H) | 3e-05 |
| Low (L) | 2e-05 |
| Close (C) | 2e-05 |
| Volume (C) | 183,649.90 |
- Open (O): The opening price for today’s trading session was approximately 3e-05 BTC.
- High (H): Tezos reached a daily high of around 3e-05 BTC.
- Low (L): The daily low for XTZ-BTC was approximately 2e-05 BTC.
- Close (C): At the time of analysis, Tezos is trading near its daily close of 2e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.21% |
| 3D Change (%) | -3.40% |
| 7D Change (%) | -2.36% |
| 30D Change (%) | -8.34% |
| 90D Change (%) | -8.99% |
| YTD Change (%) | -43.63% |
Over the past three days, XTZBTC has declined by approximately -3.40%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -2.36%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with XTZBTC maintaining a downward trend of approximately -8.34%, despite intermittent fluctuations. Examining the last 90 days, XTZBTC has witnessed substantial decrease of approximately -8.99%, reflecting strong long-term confidence. Year-to-date, XTZBTC has steadily declined by around -43.63%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Tezos Live Chart:
You can access a live price chart for XTZ-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.25254.
- Momentum score is -0.08336.
XTZ BTC Technical Analysis
Tezos Trading Volume:
The trading volume for Tezos (XTZ) over the past 24 hours has been significant, with approximately 183,649.90 BTC traded against XTZ. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): XTZ is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Tezos is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for XTZ-BTC is currently in the low zone, around 40.97249. This suggests that Tezos is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Tezos (XTZ-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
