The post Tezos Price Tests Lower Bollinger Band Support at $0.58 Amid Broader Crypto Selloff appeared on BitcoinEthereumNews.com.

Terrill Dicki
Oct 19, 2025 09:36

XTZ trades at $0.58 with RSI at 36.88 as Tezos technical analysis shows price testing key support levels following three consecutive days of market-wide crypto declines.

Quick Take • XTZ trading at $0.58 (down 0.2% in 24h) • Three-day selling streak follows broader cryptocurrency market downturn • XTZ price testing lower Bollinger Band support at $0.54 • Bitcoin correlation driving broader crypto weakness Market Events Driving Tezos Price Movement Trading on technical factors in absence of major catalysts, XTZ price has declined for three consecutive sessions alongside the broader cryptocurrency market. The most recent trading session saw Tezos close at $0.5769 on October 17, extending a decline that began earlier in the week when the token traded above $0.62. The selling pressure appears driven primarily by Bitcoin’s concurrent weakness, with BTC experiencing its own downturn during the same period. This correlation reflects the ongoing risk-off sentiment affecting digital assets broadly, rather than any Tezos-specific fundamental developments. Market volatility increased on October 16, creating selling pressure across various cryptocurrency assets. The absence of significant XTZ-specific news events during this period suggests that technical factors and broader market sentiment are the primary drivers of current price action. XTZ Technical Analysis: Testing Lower Band Support Price Action Context XTZ price currently trades well below its key moving averages, with the token positioned at $0.58 compared to its 7-day SMA of $0.60 and 20-day SMA of $0.65. The Tezos technical analysis reveals a concerning picture as the price has broken below multiple short-term support levels while maintaining distance from longer-term averages. Volume on Binance spot market reached $998,500 in the past 24 hours, suggesting moderate institutional interest despite the bearish price action. The XTZ price movement shows strong correlation with…

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Filed under: News - @ October 19, 2025 10:26 am