Tezos Price Prediction for Today, May 20: XTZ/USD Could Hit $1.00 Resistance

The Tezos price prediction shows that XTZ begins with a steady increase above the $0.90 resistance as it is currently rising and might rally further.

Tezos Prediction Statistics Data:

• Tezos price now – $0.90
• Tezos market cap – $848 million
• Tezos circulating supply – 938.4 million
• Tezos total supply – 959.6 million
• Tezos Coinmarketcap ranking – #56

XTZ/USD Market

Key levels:

Resistance Levels: $1.20, $1.30, $1.40

Support Levels: $0.60, $0.50, $0.40

XTZ/USD looks green today as the price hovers above the 9-day moving average. Meanwhile, a daily close above the upper boundary of the channel may increase the Tezos price to the resistance level of $1.10. However, traders should note that a consistent price increase may bring more buyers into the market as bulls increase their positions.

Tezos Price Prediction: Tezos Price May Begin to Move Higher

According to the daily chart, if the Tezos price crosses above the 21-day moving average, it is likely to break above the upper boundary of the channel. On that note, the daily chart also reveals that if the 9-day moving average crosses above the 21-day moving average, it will confirm the presence of the bulls in the market.

On the contrary, if the bulls failed to push the coin to the upside, the bears may take advantage and bring the market price toward the lower boundary of the channel. However, the technical indicator Relative Strength Index (14) is likely to cross above the 40-level. If the Tezos price rises and crosses above the channel, touching the resistance level of $1.15 could locate the potential resistance levels at $1.20, $1.30, and $1.40 but sliding below the lower boundary of the channel could bring the price to the supports at $0.60, $0.50, and $0.40.

When compares with Bitcoin, the Tezos price is hovering within the 9-day and 21-day moving averages as the coin prepares for the bullish movement. However, the coin may cross above the upper boundary of the channel, which could hit the resistance level at 4100 SAT and above.

On the contrary, if the sellers bring the market to the south, traders can expect a bearish drop below the lower boundary of the channel, breaking below this barrier may locate the support at 2600 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) crosses above the 40-level to give more bullish signals within the market.

Alternatives to Tezos

The Tezos market operation may increase in swinging highs against the US Dollar in the following sessions. Indicators are showing the price that appears, getting set for swing highs above the channel. However, XTZ/USD market buyers are to exercise caution by avoiding opening a buying order. Meanwhile, it is important to know that the AiDoge (AI) token is still very hot at the moment. Investors are encouraged not to miss this opportunity for any reason as the presale is still live, and close to $12 million has been realized so far.