In this Tezos technical analysis, we will examine the current price action, trading volume, key levels and indicators for XTZ-USDT. Tezos is a decentralized blockchain that utilizes a proof-of-stake consensus algorithm, allowing for faster and more energy-efficient transactions compared to traditional proof-of-work protocols. Its on-chain governance mechanism enables community-driven decision-making, ensuring the blockchain’s long-term sustainability and adaptability to changing market needs. With a strong focus on formal verification and mathematical proofs, Tezos aims to provide a secure and reliable platform for decentralized applications and smart contracts.
Tezos Price Overview:
As of July 06, 2024, Tezos is trading at approximately 0.732 USDT. Let’s dive into the detailed price action for XTZ-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.728 |
| High (H) | 0.742 |
| Low (L) | 0.717 |
| Close (C) | 0.732 |
| Volume (C) | 2,346,348.00 |
- Open (O): The opening price for today’s trading session was approximately 0.728 USDT.
- High (H): Tezos reached a daily high of around 0.742 USDT.
- Low (L): The daily low for XTZ-USDT was approximately 0.717 USDT.
- Close (C): At the time of analysis, Tezos is trading near its daily close of 0.732 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.69% |
| 3D Change (%) | -4.69% |
| 7D Change (%) | -4.81% |
| 30D Change (%) | -21.96% |
| 90D Change (%) | -42.41% |
| YTD Change (%) | -27.45% |
Over the past three days, XTZUSDT has declined by approximately -4.69%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -4.81%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with XTZUSDT maintaining a downward trend of approximately -21.96%, despite intermittent fluctuations. Examining the last 90 days, XTZUSDT has witnessed substantial drop of approximately -42.41%, reflecting strong long-term confidence. Year-to-date, XTZUSDT has steadily dropped by around -27.45%, 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-USDT 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 0.59411.
- Momentum score is -0.10404.
XTZ USDT Technical Analysis
Tezos Trading Volume:
The trading volume for Tezos (XTZ) over the past 24 hours has been insignificant, with approximately 2,346,348.00 USDT 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-USDT is currently in the low zone, around 40.27569. This suggests that Tezos is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Tezos (XTZ-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Assess Tezos’s (XTZUSDT) risks at 7.32e-01 USDT with bearish technical analysis, highlighting weakened support and cautionary indicators.
Take your understanding to the next level with our extensive analysis of XTZ BTC Tezos Technical Analysis; if you enjoyed this post, you’re in for a treat!
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.