Tezos Price Prediction – How Much Will XTZ Be Worth in 2021?
- Bullish Tezos price prediction ranges from $7.96 to $9.55.
- Tezos prices might also reach $10 soon.
- XTZ bearish market price prediction for 2021 is $3.15.
In Tezos (XTZ) price prediction 2021, we use statistics, price patterns, ADX, and much other information about XTZ to analyze the future movement of the cryptocurrency.
Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.
Let us see about the Tezos price prediction 2021.
Current Market Status of Tezos (XTZ)
According to CoinGecko, the Tezos price is trading at $6.86 with a 24-hour trading volume of $329,958,203, at the time of writing. However, Tezos has decreased by 4.7% in the last 24 hours.
Currently, Tezos trades in cryptocurrency exchanges such as Binance, Tokocrypto, OKEx, FTX, and Bybit.
Tezos (XTZ) Price Prediction 2021
Tezos (XTZ) holds the 34th position on CoinGecko right now. Tezos price prediction 2021 explained below with a daily time frame.
The price action contained between two parallel upward sloping lines defined as an ascending channel. Higher highs and lower lows distinguish this price pattern. An ascending channel formed by connecting the swing lows with a lower trend line and the swing highs with an upper channel line.
A breakout above an ascending channel may indicate that the upward trend will continue, whereas a breakdown below an ascending channel may indicate that the trend will change.
Currently, XTZ is trading at $7.049. After this, XTZ may continue to fall or rise according to the direction of breakout. With this pattern, XTZ might reach the resistance level at $9.55 soon. If the trend reverses, then the price of XTZ may fall to $4.54.
Tezos (XTZ) Support and Resistance Level
The below chart shows the support and resistance level of Tezos (XTZ).
From the above chart, it is observed that the following are the resistance and support levels of Tezos.
- Resistance Level – $8.38
- Support Level 1 – $6.29
- Support Level 2 – $4.24
- Support Level 3 – $3.15
The chart depicts the bullish performance of Tezos over the previous month. However, this trend will continue to reach a resistance level at $8.38 soon. Even more, if the trend reversed then Tezos might fall to $3.15 presenting a bearish signal.
Tezos (XTZ) Average Directional Index (ADX)
Let us now look at XTZ’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).
Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.
The above chart represents the ADX of Tezos. Currently, Tezos lies in the range at 21.024, so it indicates a weak trend.
Conclusion
Tezos is one of the cryptos which is great for long-term investment. In addition, Tezos price prediction is bullish for a short-term. It has a good chance of reaching $9.12 within the end of this year. However, this will only happen if many previous psychological barriers are broken.
Furthermore, with the advancements and upgrades on the Tezos ecosystem, the performance of Tezos would rise reaching $8.38 very soon. But, it might also reach $10 if the investors believe that Tezos is a good investment in 2021.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
