Get most of the Tezos (XTZ) USD price analysis with interactive analytical tools to study chart patterns. The chart references the Tezos (XTZ) USD price live from the Coinbase Pro exchange.
About Tezos (XTZ):
Tezos is a distributed consensus platform with meta-consensus capability. Tezos not only comes to consensus about the state of its ledger, like Bitcoin or Ethereum, it also attempts to come to consensus about how the protocol and the nodes should adapt and upgrade.
XTZ holders can vote on the proposals for protocol and upgrades proposed by developers, therefore enables the protocol to remain the state-of-the-art long into the future with less chances of a hard fork.
Tezos is designed to provide the safety and code correctness required for high value use cases. Its native smart contract language, Michelson, facilitates formal verification, a methodology commonly used in mission-critical environments such as the aerospace, nuclear, and semiconductor industries. French banking giant Societe Generale is using the Tezos blockchain for experimenting with a central bank digital currency.
Technical indicators:
Technical Analysis through the use of live chart helps to forecast future Tezos (XTZ) USD price trends, however, do remember that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely Tezos (XTZ) USD price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line”, is then plotted in addition to the MACD line which together functions as a trigger for Tezos (XTZ) buy and sell.
Traders may buy the asset – Tezos (XTZ) when the MACD crosses above its signal line (orange line) and Sell, or short, the Tezos (XTZ) when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side of zero the MACD lines are. Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero.
- Above zero for a sustained period of time, and the trend is likely up or
- Below zero for a sustained period of time, and the trend is likely down.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:
- RSI value of 70 or above indicates that an asset is becoming overbought and may be primed for a trend reversal or experience correction in the Tezos (XTZ) USD price.
- An RSI reading of 30 or below indicates an oversold or undervalued condition.
Tezos price Simple Moving average (SMA)
SMA is the average of the closing USD price of an asset – Tezos (XTZ) over a given number of periods. The 200-day simple moving average (SMA) is one of the most-watched activities in the price charts by mostly all experienced traders. There are two basic signals in relation to the moving average:
- If the price is above the X day SMA, this signals a bullish movement.
- If the price is below the X day SMA this signals a bearish movement.
MA(50,200) Crossover
Another important signal that these moving averages send is a crossover between the 50-day and the 200-day moving averages.
- Essentially, a bullish crossover (the 50-day MA moving above the 200-day MA) is called a golden cross and it signals that a new bullish price trend for Tezos (XTZ) is starting.
- A bearish crossover (where the 50-day MA crosses below the 200-day MA) is known as the death cross. This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.
- If OBV is rising and the price isn’t, the price is likely to follow the OBV and start rising.
- In case the Tezos (XTZ) price against USD is rising and OBVÂ is flat-lining or falling, the price may be near a top.
- If the Tezos (XTZ) price against USD is falling and OBV is flat-lining or rising, the price could be nearing a bottom.
Chart Patterns
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending and Descending)
- Double top and bottom [M (bearish) and W (bullish)]
- Triple Top (bearish) & Bottom (bullish)
