• Tezos‘ (XTZ) price surged by over 6% in the last 24 hours and recorded a 14-day price gain of 14.9%.
• At press time, XTZ is trading at $1.39, a 4.71% increase from its past day’s price and leading similar smart contract platform coins with a 7-days rally of 22.1%.
• Tezos is trading above its 50-day and 200-day Simple Moving Averages (SMA), a bullish signal which reflects the possibility of a short-term rally.
Overview of XTZ Price Action
Tezos (XTZ) price has performed well over the past weeks and is currently trading at $1.39, with gains of 4.71% in the last 24 hours, outperforming the global cryptocurrency market by 0.4%. Additionally, XTZ has seen a 14-day price gain of 14.9%, as well as a 30-day rally of 25.3%, leading similar smart contract platform coins with a 7 days rally of 22.1%.
Tezos‘ Historical Performance
Tezos held its ICO (initial coin offering) in July 2017 and traded above $2 before rallying to over $9 during the 2021 Bull Run before correcting again to its current price of $1.39 – 300.9% higher than its December 07, 2018 all-time low but 84.58% lower than its October 2021 all-time high of $9.12.. After closing 2022 at $0.720353, XTZ saw an impressive momentum when market conditions improved earlier in January 2021, climbing above $1 on January 15th until February 23rd when it remained above this level amid slight pullbacks.
Analysis Of XTZ Price Trend
Tezos is trading above its 50-day and 200-day Simple Moving Averages (SMA), indicating an overall bullish signal for the token’s short term performance which could hint at XTZ’s potential to exceed the current price and climb above $2 in the coming days.. Furthermore, Tezos is forming a long green candle on the daily chart today despite forming redcandle which indicates further upside potential for this altcoin asset class .
XTZ Price Prediction
Given that Tezos is outperforming both the global cryptocurrency market and other similar smart contract platform coins with strong gains over recent weeks , there could be further upside potential for this altcoin asset class if it can manage to surpass its previous highs close to $ 9 . Although there are no guarantees regarding any kind of investment , market conditions remain positive for investors looking to make return on their investments through cryptocurrencies such as Tezos .
Conclusion
Overall , Tezos appears well positioned to continue making gains based on recent analysis , while maintaining strong levels compared to other altcoins . Despite being 84 . 58 % down from it’s all time high , there remains potential for further growth if market conditions remain favourable . As always , investors should take standard precautions when investing into cryptocurrencies or any kind asset class online .
