Even though Tezos (XTZ) can’t be dubbed the hardest gainer amongst top altcoins - XTZ is now ranked 18th - the coin for the smart contracts network has had its share of positive price action this year. On the year-to-date time frame, Tezos is 64,8% in the green, which is a far better result than that of Litecoin (LTC) or Ripple (XRP), while its achievement over the past year amounts to 185% in the USD market, and 67.4% against Bitcoin (BTC). On the smaller scale, however, XTZ hasn’t been as impressive, especially when put against the first cryptocurrency: it had only 5.5% to the upside, but lost 14.4% against Bitcoin, mainly due to BTC’s recent 12% rally.
1-week XTZ/USDT chart
Today, the price of Tezos stands at $2.23 after a small 2.12% price appreciation in the past 24 hours. The coin’s market capitalization had been sliding slowly downhill since the middle of August from $3.2 billion, though it has stabilized throughout October at $1,6 billion in conformity with the ongoing consolidation that we see on the weekly chart. Needless to say that the average trading volume hasn’t been fluctuating sharply during the past four weeks, revolving around $120 million, with Binance being the host to the largest trading activity.
When looking at the macro (weekly) time frame, it is clear that something bullish is brewing in this marketplace, judging from how diligently the bulls are protecting the support located around the $2 zone while constantly pushing the close of each next candle slightly higher, gradually shaping up the pattern that appears to be the bullish checkmate. In this situation, the break to the upside would probably occur once the bullish candle, preferably the engulfing one, closes above $2.5 on the backdrop of the rising bullish volume.
Speaking of trading volume, it has obviously been on the decline throughout the consolidation period, but the fact that the bears were unable to pressurize the price beneath the support line despite the predominantly selling volumes speaks in the bulls’ favor.
1-day XTZ/USDT chart
Let’s take a quick look on the daily time frame in order to find the most suitable entry point for a long trade that could potentially bring the 40.7% profit in a little over 30 days. Here we see the Bollinger Bands going slowly for a squeeze that precedes the high volatility period, though it needs to be confirmed by the Average True Range (ATR) indicator, which is currently at the lower extremities. Stochastic here is also flashing bullish. Therefore, the most optimal entry point for the trade would be slightly above $2.48, the new higher high and the point where the price should begin stretching the Bollinger Bands.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||65.6%||68||$29 850.43||-3.65%||-4.26%||$568 403 121 147|
|2||ETH||Ethereum predictions||64%||69||$2 027.90||-4.59%||-11.93%||$244 980 892 850|
|3||USDT||Tether predictions||95.6%||1||$0.998991||0.01%||-0.10%||$75 675 664 066|
|4||USDC||USD Coin predictions||92.8%||1||$1.000571||0.01%||0.07%||$51 906 824 870|
|5||BNB||Binance Coin predictions||70%||67||$297.70||-3.06%||-4.32%||$48 607 072 077|
|6||XRP||XRP predictions||68.8%||65||$0.426717||-3.00%||-15.24%||$20 628 827 463|
|7||ADA||Cardano predictions||67.2%||69||$0.563724||-4.15%||-12.20%||$19 027 115 441|
|8||SOL||Solana predictions||59.6%||80||$54.76||-3.33%||-18.25%||$18 460 241 423|
|9||BUSD||Binance USD predictions||96%||1||$0.999628||-0.08%||0%||$17 980 196 273|
|10||DOGE||Dogecoin predictions||67.2%||70||$0.087759||-4.13%||-19.79%||$11 643 053 987|
|11||DOT||Polkadot predictions||62.4%||80||$10.70||-7.52%||-5.91%||$10 563 488 569|
|12||AVAX||Avalanche predictions||60%||82||$33.18||-7.71%||-27.07%||$8 928 026 857|
|13||WBTC||Wrapped Bitcoin predictions||68.8%||68||$29 806.39||-3.61%||-4.46%||$8 465 131 079|
|14||TRX||TRON predictions||67.6%||65||$0.069523||-2.73%||-9.07%||$6 797 247 437|
|15||SHIB||SHIBA INU predictions||64.8%||79||$0.000012||-5.29%||-21.73%||$6 634 444 793|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2022 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.