This website uses cookies to ensure you get the best experience on our website

Technical Analysis for XTZUSD for 13th April 2022

Tezos Firm, XTZ Finds Support at $3 but will Bulls Hold?

Past Performance of XTZ

Tezos is impressively steady from around March 2022 lows, printing a bullish engulfing bar and comprehensively reversing the losses of April 11. Although there are hints of weakness, XTZ bulls could take charge in the immediate term in a buy trend continuation pattern after April 11 scares prove to be a climactic sell-off, possibly marking the end of the April 4 to April 11 correction.

Tezos Technical Analysis

XTZ remains under pressure at spot rates. Despite welcomed gains, the coin is pinned to Q1 2022 lows, with sellers in the driving seat. There could be headroom for XTZ in the immediate to medium term only, provided prices are held above $3—a crucial support line that may likely be the base of a triple-bottom. Confirmation of April 12 gains offer entries for buyers to double down, targeting $3.5 and $4 in the medium term. Conversely, a dump below $3 may cause panic, triggering a sell-off towards $2—the June 2021 lows.

What to Expect from XTZ

Tezos is a mature self-amending smart contracting platform with vibrant DeFi and NFT communities. Recovery is highly likely, but $3 is a critical support level in the immediate term.

Resistance level to watch: $3.5

Support level to watch: $3

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020