Tezos (XTZ) Price Prediction 2023 — Will XTZ Hit $5 Soon?
- Bullish Tezos price prediction 2023 is $1.489 to $2.253.
- Tezos (XTZ) price might also reach $5 soon.
- Bearish Tezos price prediction for 2023 is $0.699.
In Tezos (XTZ) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about Tezos to analyze the future movement of the cryptocurrency.
Tezos (XTZ) Current Market Status
| Current Price | $1.22 |
| 24 – Hour Trading Volume | $34,351,000 |
| 24 – Hour Price Change | 2.1% up |
| Circulating Supply | 922,857,799 |
| All – Time High | $9.12 (On October 04, 2021) |
What is Tezos (XTZ)?
Tezos (XTZ) is the native cryptocurrency of Tezos. Tezos is an open-source, smart contract-based blockchain that facilitates the creation and development of smart contracts and dApps.
The blockchain is secured by a modified proof-of-stake (PoS) called liquid proof-of-stake (LPoS). Transactions are added onto the blocks and validated by a group of validators called bakers and endorsers. Bakers are the ones who stake XTZ tokens and create new blocks. While endorsers validate the blocks.
Users can stake Tezos (XTZ) tokens to validate blocks and secure the blockchain. Token holders receive voting rights and participate in the network’s governance.
Tezos (XTZ) Price Prediction 2023
Tezos (XTZ) holds the 48th position on CoinGecko right now. Tezos price prediction 2023 is explained below with a daily time frame.
The above chart of Tezos (XTZ) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
Currently, Tezos (XTZ) is in the range of $1.22. If the pattern continues, the price of Tezos might reach the resistance levels of $1.244, $1.500, and $1.954.If the trend reverses, then the price of Tezos may fall to $0.954.
Tezos (XTZ) Support and Resistance Levels
The chart below shows the support and resistance levels of Tezos (XTZ).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Tezos (XTZ).
| Resistance Level 1 | $1.489 |
| Resistance Level 2 | $2.253 |
| Support Level 1 | $0.970 |
| Support Level 2 | $0.699 |
The charts show that Tezos (XTZ) has performed a bullish trend over the past month. If this trend continues, Tezos might run along with the bulls overtaking its resistance level at $2.253.
Accordingly, if the investors turn against crypto, the price of Tezos (XTZ) might plummet to almost $0.699, a bearish signal.
Tezos (XTZ) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Tezos (XTZ) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of Tezos lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Tezos (XTZ) is shown in the chart above. Notably, Tezos (XTZ) price lies below 50 MA (short-term), so it is in a downtrend. Currently, Tezos has entered a bearish state. Therefore, there is a possibility of a reversal trend of Tezos at any time.
Meanwhile, the relative strength index (RSI) of the Tezos is 50.95. This means that Tezos (XTZ) is nearly in an overbought state. However, this means a major price reversal of Tezos may occur in the upcoming days. So, traders need to trade carefully.
Tezos (XTZ) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Tezos (XTZ). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Tezos (XTZ). Currently, the ADX of Tezos lies in the range of 18.503 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of Tezos (XTZ). RVI measures the constant deviation of price changes over a period of time. The RVI of Tezos lies below 50, indicating low volatility. In fact, the RSI of Tezos (XTZ) is at 50.95 thus confirming a potential buy signal.
Comparison of Tezos with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Tezos (XTZ).
From the above chart, we can interpret that the price action of XTZ is similar to BTC and ETH. This indicates that when the price of BTC and ETH increases, the price of XTZ increases.When the price of BTC and ETH decreases,the price of XTZ decreases
Tezos (XTZ) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Tezos (XTZ) between 2024 and 2030.
Tezos (XTZ) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Tezos (XTZ) might probably attain $6 by 2024.
Tezos (XTZ) Price Prediction 2025
With several upgrades in the network, Tezos (XTZ) might enter a bullish trajectory. If the coin grabs the attention of major investors, Tezos might rally to hit $7 by 2025.
Tezos (XTZ) Price Prediction 2026
If Tezos (XTZ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, Tezos would rally to hit $9.
Tezos (XTZ) Price Prediction 2027
If Tezos (XTZ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, Tezos would rally to hit $11.
Tezos (XTZ) Price Prediction 2028
If Tezos (XTZ) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, Tezos would rally to hit $13.
Tezos (XTZ) Price Prediction 2029
If Tezos (XTZ) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, Tezos would hit $15 in 2029.
Tezos (XTZ) Price Prediction 2030
If investors flock in and continue to place their bets on Tezos (XTZ), it would witness major spikes. Tezos might hit $17 by 2030.
Conclusion
With continuous improvements in the Tezos network, we can say that 2023 is a good year for Tezos. For this reason, the bullish price prediction of Tezos (XTZ) in 2023 is $2.257. On the other hand, the bearish price prediction of Tezos (XTZ) price prediction for 2023 is $0.695.
Furthermore, with the advancements and upgrades to the Tezos ecosystem, the performance of Tezos would help to reach above its current all-time high (ATH) of $9.12 very soon. But, it might also reach $5 if the investors believe that Tezos is a good investment in 2023.
FAQ
Tezos (XTZ) is the native crypto token of Tezos. Tezos is an open-source blockchain that facilitates the creation and development of smart contracts and dApps.
Tezos (XTZ) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, Huobi Global, Kraken and Bithumb.
With the ongoing developments and upgrades within the Tezos platform, Tezos has a high possibility of reaching its ATH soon.
On October 04,2021 Tezos (XTZ) reached its new all-time high (ATH) of $9.12
Tezos (XTZ) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Tezos in the past few months, Tezos is considered a good investment in 2023.
Tezos (XTZ) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Tezos (XTZ) will hit $5 soon.
Tezos (XTZ) price is expected to reach $6 by 2024.
Tezos (XTZ) price is expected to reach $7 by 2025.
Tezos (XTZ) price is expected to reach $9 by 2026.
Tezos (XTZ) price is expected to reach $11 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/tezos-xtz-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
