Search ForexCrunch
  • Tezos price suffered a massive 40% sell-off down to $2.9.
  • The digital asset had an excellent recovery jumping by 33% above a key support level.
  • The next target for XTZ bulls is located at $4.4 in the short-term.

Like the rest of the cryptocurrency market, Tezos price suffered a flash crash losing about 40% of its value in less than 48 hours. However, XTZ bulls managed to defend a crucial support level and aim for a significant rebound.

Tezos price aims for $4.4 in the short-term

On the 9-hour chart, Tezos price has just climbed above a crucial resistance level at $3.7 which coincides with the 100-SMA level. If XTZ bulls can hold this key point, Tezos price could easily jump towards $4.4 which is the 50-SMA level. 

xtz price

XTZ/USD 9-hour chart

On the other hand, failure to hold the 100-SMA support at $3.7 would be bearish and likely to take Tezos price down to the psychological level at $3, which converges with the 200-SMA support level. 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.