Tezos Price Analysis – September 11
The Tezos price is yet to climb above the upper boundary of the channel as the coin reclaims previous resistance levels.
Resistance levels: $8.0, $8.5, $9.0
Support levels: $5.0, $4.5, $4.0
XTZ/USD has been maintaining its price movement above the upper boundary of the channel with the intraday price fluctuations. However, the overall bullish market of crypto seems not to have affected Tezos much. Over the last 24 hours, the coin has done some significant shifts and the latest gain is around 3.26%.
Tezos Price Analysis: Tezos (XTZ) Remains at the Upside
The daily chart is showing that the buyers are making an effort to step into the market. If the bulls continue to push the price above the upper boundary of the channel, the nearest resistance level lies at $7.0. A further movement may take the price to $8.0, $8.5, and $9.0 resistance levels.
In other words, if the market begins to drop, the next key support may likely be at $5.5, and should the bulls fail to hold the support level, the price may further swing to $5.0, $4.5, and $4.0 levels. The technical indicator RSI (14) remains above 65-level, indicating an upward movement at the moment.
XTZ/BTC Market: Price Keeps Moving at the Upside
Against Bitcoin, the Tezos is currently changing hands at 1405 SAT above the 9-day and 21-day moving averages. If the bulls hold the price tight as it is, the next key target price can be located at 1700 SAT and above. Meanwhile, the technical indicator Relative Strength Index (14) remains within the overbought region, suggesting more bullish signals.
However, if the bears bring the price to the downside, the market may resume its bearish trend and XTZ/USD price may likely see a sharp drop towards the lower boundary of the channel at 1200 SAT and below.