- Tezos’ price has reached a 6-Month high
- Tezos saw an impressive 10% surge in the last 24-hours
- XTZ price bounced from the $3 support earlier in the week
Tezos News Today – the digital asset market has been moving in a bullish direction in recent weeks. One of the top assets, Tezos is now moving in that direction after its competitors Cardano and Link made huge moves. The charts show that the price of Tezos posted an impressive rally in the last 24-hours of trade after it gained 10%. The coin is now changing hands at $3.6 at press time. This is its most recent daily high price point. This position is a six-month high for Tezos. Recall that the digital currency recently bounced from the $3 support area earlier in the week. Against Bitcoin, Tezos recovered from the 25,800 SAT support to reach the 30,000 SAT area.
Tezos’ Price Surged by 10%
Tezos price surged by 10% over the last 24-hours. It reached resistances at $3.50 and $3.52. The digital asset bounced from $3 earlier in the week. It broke above the $3.31 resistance. The above-mentioned resistance ’caused trouble’ for XTZ in July. Breaking this resistance has allowed Tezos to create a 6-month high. If buyers push higher beyond the $3.52 area, resistance will be located at $3.61 (which is today’s high).
This will likely be followed by other resistance areas at $3.70, $3.78, and $4. The first support level is located near $3.40. Under this area, there are other support areas at $3.20, $3.05, and $2.89. The RSI for XTZ/USD recently bounced from the 50 levels. This position implies that it saw a solid bullish signal. It shows that buyers are currently unwilling to give up control of the ongoing market momentum.
Tezos is Attempting To Bring Back July Highs
The price of Tezos is moving slightly different against Bitcoin. It managed to surge significantly in July and reached the 35,000 SAT resistance area. The XTZ price was not able to overcome the above-mentioned resistance area. This caused it to decline. XTZ’s price dumped throughout the rest of July. This happened until it found support at 24,300 SAT. This price level had offered strong support during March and April.
Tezos’ price has since moved higher from this area since August began as it reached 30,150 SAT which is resistance at press time. On a micro-level, the 4-hour chart, clearly shows XTZ price breaking a 4-week descending pattern at 28,000 SAT. This pattern was retested as support. At press time, the price of XTZ has posted a higher low. This point could likely be the beginning of a fresh bull-run.