Tezos Price Prediction for Today, December 22 – XTZ Technical Analysis

For the past few days, the Tezos price prediction has been showing an amazing intraday hike as it rises to $1.01.

Tezos Prediction Statistics Data:

• Tezos price now – $0.98
• Tezos market cap – $150.1 million
• Tezos circulating supply – 767.5 million
• Tezos total supply – 1 billion
• Tezos Coinmarketcap ranking – #287

XTZ/USD Market

Key Levels:

Resistance levels: $1.10, $1.15, $1.20

Support levels: $0.80, $0.75, $0.70

XTZ/USD is pushing the market price above the 9-day and 21-day moving averages. Moreover, the Tezos price is hovering above $0.95 to trade at $0.98 at the time of writing. However, the XTZ is seen gathering bullish momentum after a sustainable break above an important technical level.

Tezos Price Prediction: XTZ Price Faces the North

On the upside, if the Tezos price crosses above the upper boundary of the channel, the price may touch the nearest resistance at $1.05. Meanwhile, the technical indicator shows that the bulls are still in action especially when the 9-day MA keeps moving above the 21-day MA. Any further bullish movement above the channel could pave the way to the resistance levels of $1.10, $1.15, and 1.20.

Meanwhile, if the price falls below the moving averages, the market may be compelled either to a range-bound or begin a downward movement. If this happens, it may likely serve as a major blow to the market sentiments as traders could interpret it as a sign of underlying weakness. The nearest support may come at $0.95, which may be followed by $0.80, $0.75, and $0.70 support levels.

XTZ/BTC Could Begin Bullish Movement

Against Bitcoin, Tezos (XTZ) is hovering at around 2288 SAT level. Meanwhile, if the price drops, sellers could prepare the coin for the downside as they could pose an additional threat to buyers, which can reach the nearest support level of 2100 SAT, where the closest target is located. However, a possible break under the current market value at 2000 SAT may cause the coin to collapse.

Therefore, for an upward movement, 2500 SAT and above is the main resistance level, and a negative peak could test the major support at 1900 SAT and below. Nevertheless, the 9-day MA remains above the 21-day MA, allowing new buyers to come into the market.

Tezos Alternatives

As of now, the Tezos price could maintain its upward trajectory if bullish activity intensifies. Nonetheless, for XTZ/USD to experience a momentum change, bulls might have to propel the price beyond the current channel, considering that a significant resistance level looms around the $1.00 level within the market.

Meanwhile, Bitcoin Minetrix is emerging as a dynamic and innovative token, setting it apart from Tezos (XTZ). Although Tezos boasts a significant market presence with a market cap of $150.4 million, it may not have the opportunity to gain more profit because of its huge market cap. Bitcoin Minetrix introduces a novel approach with its decentralized cloud mining platform as its presale has demonstrated remarkable success, gathering nearly $5.8 million in the ongoing presale stage.