Tezos Price Prediction
Methods To Predict The Price Of Tezos (XTZ)
Getting Started -
What Is Tezos?
Tezos is a decentralized smart contract and decentralized application platform with a focus on self governance. Tezos experienced high volatility in 2019 with a low of $0.30 and a high of $1.85. Today we’ll be looking at how you can use methods such as technical and fundamental analysis to formulate your own Tezos price prediction
Tezos (XTZ) is available for purchase on the following exchanges
If you’re unfamiliar with how to buy Tezos (XTZ), follow the link below.
Price Action -
Analyzing The Price Of Tezos (XTZ)
One of the simplest methods to predict the future price of a cryptocurrency like Tezos (XTZ) is by looking at prior price history on a chart. Through the use of common technical analysis techniques such as identifying horizontal support and resistance levels, calculating moving averages and calling on indicators to signal strength or weakness in the market.
The large majority of popular cryptocurrencies are available to chart and analyze on TradingView. TradingView integrates with popular exchanges like Binance, Huobi, ByBit, Kucoin and many more to offer real-time price data on a wide range of Altcoins such as Tezos (XTZ).
Price Action -
Analyzing The Price Of Tezos (XTZ)
One of the simplest methods to predict the future price of a cryptocurrency like Tezos (XTZ) is by looking at prior price history on a chart. Through the use of common technical analysis techniques such as identifying horizontal support and resistance levels, calculating moving averages and calling on indicators to signal strength or weakness in the market.
The large majority of popular cryptocurrencies are available to chart and analyze on TradingView. TradingView integrates with popular exchanges like Binance, Huobi, ByBit, Kucoin and many more to offer real-time price data on a wide range of Altcoins such as Tezos (XTZ).
Technical Analysis -
Identifying Support & Resistance Levels
Identifying levels of support and resistance are often all it takes to gather a basic idea of where price of cryptocurrencies like Tezos may be headed. Horizontal resistance levels can be identified by counting the amount of times a price is tested and rejected on an attempt upwards. Horizontal support levels can be identified by counting the amount of times a a price tests and bounces from a particular price on the way down.
In the following chart we can see that XTZ has had many interactions with the $1.80 USD area which has solidified it as a resistance level from a daily outlook. There is strong support for XTZ around the $0.80 area. From this data you may be able to create your own XTZ price prediction and trade accordingly.
Technical Analysis -
Using Moving Averages
Moving averages are used by many Traders to assess momentum and potential levels where price is likely to bounce from a downtrend or start slowing down after an uptrend. With the use of several important moving averages such as the 20, 50, 100 and 200, Traders can get a good idea of where to buy Tezos (XTZ) and where to sell for profit.
In the following image we can see that XTZ has has many interactions with the 1D 200MA which is represented by the bright pink line running through the chart. From this we can assume that this line will remain important in a Traders decision to buy or sell Tezos (XTZ)
For long term investing or trading, look at moving averages on the daily or weekly charts for important levels in which to form your Tezos (XTZ) price prediction.
Technical Analysis -
Using Moving Averages
Moving averages are used by many Traders to assess momentum and potential levels where price is likely to bounce from a downtrend or start slowing down after an uptrend. With the use of several important moving averages such as the 20, 50, 100 and 200, Traders can get a good idea of where to buy Tezos (XTZ) and where to sell for profit.
In the following image we can see that XTZ has has many interactions with the 1D 200MA which is represented by the bright pink line running through the chart. From this we can assume that this line will remain important in a Traders decision to buy or sell Tezos (XTZ)
For long term investing or trading, look at moving averages on the daily or weekly charts for important levels in which to form your Tezos (XTZ) price prediction.
Technical Analysis -
Utilizing Indicators
Indicators can assist Traders in making a prediction on whether the price of Tezos (XTZ) will go up or down. Indicators take into account various factors such as time, volume, momentum and many more to indicate whether a cryptocurrency like Tezos (XTZ) should to rise or fall.
In the following image we can see that the RSI (Relative Strength Index) Indicator which is used by a large majority of Traders is located at the bottom of the chart. The areas above and below the dotted lines indicate whether Tezos (XTZ) is overbought or oversold.
We’ve highlighted several different occasions where XTZ has been overbought or oversold which quickly resulted in a change of trend.
Fundamental Analysis -
Assessing Strengths & Weaknesses
Another way to make a Tezos (XTZ) price prediction is by assessing what the project has accomplished or plans to accomplish in the near future. Keeping up to date with Tezos (XTZ) news and planning the buy or sell Tezos (XTZ) around key events is a method long term Traders use consistently.
While technical analysis may assist Traders in deciding when to buy or sell Tezos (XTZ), fundamental analysis can often help forecast future price based on the knowledge of upcoming notable events or breaking news which may have an immediate and unexpected affect on price, regardless of what the charts show.
Keeping up to date with important Tezos (XTZ) news will give Traders an edge where technical analysis falls short.
Fundamental Analysis -
Assessing Strengths & Weaknesses
Another way to make a Tezos (XTZ) price prediction is by assessing what the project has accomplished or plans to accomplish in the near future. Keeping up to date with Tezos (XTZ) news and planning the buy or sell Tezos (XTZ) around key events is a method long term Traders use consistently.
While technical analysis may assist Traders in deciding when to buy or sell Tezos (XTZ), fundamental analysis can often help forecast future price based on the knowledge of upcoming notable events or breaking news which may have an immediate and unexpected affect on price, regardless of what the charts show.
Keeping up to date with important Tezos (XTZ) news will give Traders an edge where technical analysis falls short.
Those Are The Tools
Join TradingView and make own Tezos (XTZ) price prediction today
More Resources
Tezos Price & Market Statistics || How To Buy Tezos || How To Leverage Trade Tezos
