Tezos (XTZ) Price Prediction 2023 — Will XTZ Hit $2 Soon?
Bullish XTZ price prediction for 2023 is $0.946 to $1.281
Tezos (XTZ) price might reach $5 soon.
Bearish (XTZ) price prediction for 2023 is $0.519.
In this Tezos (XTZ) price prediction 2023, 2024-2030, we will analyze the price patterns of XTZ by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Tezos (XTZ) Current Market StatusWhat is Tezos (XTZ)?Tezos (XTZ) 24H Technicals
Tezos (XTZ) Support and Resistance LevelsTezos (XTZ) Price Prediction 2023 — RVOL, MA, and RSITezos (XTZ) Price Prediction 2023 — ADX, RVIComparison of XTZ with BTC, ETHTEZOS (XTZ) PRICE PREDICTION 2024, 2025, 2026-2030CONCLUSIONFAQ
Tezos (XTZ) Current Market Status
Current Price
$0.6946
24 – Hour Price Change
1.37% Up
24 – Hour Trading Volume
$13,277,365
Market Cap/>
$660,660,077
Circulating Supply
950,515,478 XTZ
All – Time High
$9.18 ( On Oct 04, 2021)
All – Time Low
$0.3146 (On Dec 07, 2018)
XTZ Current Market Status
(Source: CoinMarketCap)
What is Tezos (XTZ)
TICKERXTZBLOCKCHAINTezos CATEGORYBlockchain NetworkLAUNCHED ONJune 2018UTILITIESGovernance, security, gas fees & rewards
Tezos (XTZ) is the native cryptocurrency of Tezos. Tezos is an open-source, smart contract-based blockchain that facilitates the creation and development of smart contracts and dApps.
The blockchain is secured by a modified proof-of-stake (PoS) called liquid proof-of-stake (LPoS). Transactions are added onto the blocks and validated by a group of validators called bakers and endorsers. Bakers are the ones who stake XTZ tokens and create new blocks. While endorsers validate the blocks.
Users can stake Tezos (XTZ) tokens to validate blocks and secure the blockchain. Token holders receive voting rights and participate in the network’s governance.
Tezos 24H Technicals
(Source: TradingView)
Tezos (XTZ) Price Prediction 2023
Tezos (XTZ) ranks 9th on CoinMarketCap in terms of its market capitalization. The overview of the Tezos price prediction for 2023 is explained below with a daily time frame.
XTZ/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Tezos (XTZ) laid out a descending channel pattern. TDescending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Tezos (XTZ) was recorded at $0.6946. If the pattern trend continues, then the price of XTZ might reach the resistance level of $0.719, $0.810, and $0.936. If the trend reverses, then the price of XTZ may fall to the support of $0.673.
Tezos (XTZ) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Tezos (XTZ) in 2023.
XTZ/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Tezos (XTZ) for 2023.
Resistance Level 1$0.946Resistance Level 2$1.281Support Level 1$0.685Support Level 2$0.519
XTZ Resistance & Support Levels
Tezos (XTZ) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Tezos (XTZ) are shown in the chart below.
XTZ/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Tezos (XTZ) market in 2023.
INDICATORPURPOSEREADINGINFERENCE50-Day Moving Average (50MA)Nature of the current trend by comparing the average price over 50 days50 MA = $0.796Price = $0.701
(50MA > Price)Bearish / DowntrendRelative Strength Index (RSI)Magnitude of price change;Analyzing oversold & overbought conditions38.51
<30 = Oversold
50-70 = Neutral>70 = OverboughtNearly OversoldRelative Volume (RVOL)Asset’s trading volume in relation to its recent average volumesBelow cutoff lineWeak volume
Tezos (XTZ) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Tezos (XTZ) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
XTZ/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Tezos (XTZ).
INDICATORPURPOSEREADINGINFERENCEAverage Directional Index (ADX)Strength of the trend momentum49.386Strong TrendRelative Volatility Index (RVI)Volatility over a specific period46.54
<50 = Low
>50 = HighLow volatility
Comparison of XTZ with BTC, ETH
Let us now compare the price movements of Tezos (XTZ) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs XTZ Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of XTZ is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of XTZ also increases or decreases respectively.
Tezos (XTZ) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Tezos (XTZ) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
Year Bullish Price Bearish PriceTezos (XTZ) Price Prediction 2024$6$0.7Tezos (XTZ) Price Prediction 2025$7$0.9Tezos (XTZ) Price Prediction 2026$8$1Tezos (XTZ) Price Prediction 2027$10$1.3Tezos (XTZ) Price Prediction 2028$11$1.7Tezos (XTZ) Price Prediction 2029$13$1.9Tezos (XTZ) Price Prediction 2030$15$2.4
Conclusion
If Tezos (XTZ) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Tezos (XTZ) price prediction for 2023 is $1.281. Comparatively, if unfavorable sentiment is triggered, the bearish Tezos (XTZ) price prediction for 2023 is $0.519.
If the market momentum and investors’ sentiment positively elevate, then Tezos (XTZ) might hit $5. Furthermore, with future upgrades and advancements in the Tezos ecosystem, XTZ might surpass its current all-time high (ATH) of $9.18 and mark its new ATH.
FAQ
1. What is Tezos (XTZ)?
Tezos (XTZ) is the native crypto token of Tezos. Tezos is an open-source blockchain that facilitates the creation and development of smart contracts and dApps.
2. Where can you purchase Tezos (XTZ)?
Tezos (XTZ) has been listed on many crypto exchanges, including Binance, Coinbase Exchange, Huobi Global, Kraken, and Bithumb.
3. Will Tezos (XTZ) reach a new ATH soon?
With the ongoing developments and upgrades within the Tezos Platform, XTZ has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Tezos (XTZ)?
On October 04, 2021, XTZ reached its new all-time high (ATH) of $9.18.
5. What is the lowest price of Tezos (XTZ)?
According to CoinMarketCap, XTZ hit its all-time low (ATL) of $0.3146 on December 07, 2018.
6. Will Tezos (XTZ) reach $5?
If Tezos (XTZ) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $5 soon.
7. What will be Tezos (XTZ) price by 2024?
Tezos (XTZ) price is expected to reach $6 by 2024.
8. What will be Tezos (XTZ) price by 2025?
Tezos (XTZ) price is expected to reach $7 by 2025.
9. What will be Tezos (XTZ) price by 2026?
Tezos (XTZ) price is expected to reach $8 by 2026.
10. What will be Tezos (XTZ) price by 2027?
Tezos (XTZ) price is expected to reach $10 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Filed under: Bitcoin - @ August 28, 2023 11:15 am