The price of Tezos (XTZ) has seen higher highs as well as higher lows this month. Still, lots of analysts are bullish and believe it has the potential to become a top 5 coin. Recent Tezos price forecast has placed the coin as one of the best cryptocurrency 2019 so far.
The coin has remained on a rising streak all week and even saw a 33% spike in about a week. Tezos news today reveals that its trading volume has surged despite the consolidation in the wider cryptocurrency market. The market cap of this coin is carefully aiming for $1 billion and analysts believe it won’t be long now before it reaches. The trading volume was the highest a few days ago when it hit $11 million. Today, it stands at $7,633,079.
Recap of Tezos performance this week – Tezos price prediction
The Tezos conference or Tquorum held this in Paris week and had more than 250 attendees including experts, founders and developers.
Also, Tezos got an honorable mention from the minister of the economy and finance, Bruno Le Maire. He described the platform as a protocol that overcomes the defects of the public blockchain.
The price of Tezos saw a lot of growth this week as well. It led the altcoin market with more gains than many other coins put together. This has gained it the attention of many digital asset investors who are the searching for the best cryptocurrency 2019.
Tezos price forecast – Tezos USD live price
Despite the dip in price this morning, XTZ’s price is still above the 12-day exponential moving average as well as the 26-day exponential moving average. Both factors point towards a price increase soon.
At press time, XTZ is trading at $1.36 with a market cap of $898,694,091 USD. Its 24-hour trading volume is $7,633,079 USD according to Coin market cap.
On the upside, where the $1.4000 resistance level is breached by the bulls, the price of Tezos will rise and probably retest the previous highs of $1.8000 and $1.6000
XTZ/USD long term trend is also bullish with the resistance levels at $1.2000, $1.3000, $1.4000. the support levels are $0.4000, $0.3000, $0.2000
Since the beginning of March 2019, the XTZ/USD pair has been in a bullish trend. The price of Tezos has reached higher highs than many other cryptos within a short time. The bulls managed to push for $1.4000, but this move was not sustained for long. Looking at the charts, it is clear that a trendline has been drawn and this determines the technicality of the bullish trend’s resistance. The bearish candlestick has also broken the trendline. Looking at the price action, it appears like the bullish trend has been stalled. However, the 12-day EMA shows that a rise is likely soon.
Where the bulls successfully break the resistance level at $1.4000, the price of Tezos will surge and could reach the previous highs recorded at $1.6000 and $1.8000. failure to break the resistance level on the charts will trigger a price drop or start a range bound movement. Also, the stochastic appears in the overbought region. However, it is well above the 80% range and this indicates that Tezos USD live price is in a buy signal with a strong bullish momentum.