Tezos Price Perspectives for 2019

HITBTC:XTZUSDT   Tezos / Tether
On the daily timeframe , we can see that XTZ went as high as $1.16 at the end of March. However, there was not enough fuel to drive the price up, so it corrected and reached the bottom at $0.82, lower than the crucial line of resistance at $1.

Fortunately, the bulls managed to bring Tezos past SMA200 & SMA50 for several times on the hourly, but they are still struggling with going past the major level of resistance. In short-to-mid term perspective, Tezos looks relatively stable and possibly bullish . The price moves in a range between ~$0.9 and ~$1.1. At the same time, Bollinger bands have adjusted and Stoch RSI is still within its bounds, close to crossing. Considering the disposition of SMA 50 on daily near $0.9, the XTZ support is currently strong enough to keep the price from significant decline.

Tezos price is going past moving averages for 12 and 26 days, if it’s going to be held above these levels, this is a strong case for the bulls to proceed the previously marked high at ~$1.4. Further growth depends on whether the price will go higher than the downward trending line. Otherwise, XTZ will continue to go down, as the Elliot Wave Oscillator is bearish .

Since the beginning of 2019 Tezos has been moving within a price tunnel, which resulted in growth for more than 100% from $0.4 that started on March 16, 2019. However, this wasn’t due to the coin’s past performance, which was far from great in 2018. As the whole market rebounds, Tezos follows the pack.

Although like in the case with the majority of other altcoins, XTZ moves along with Bitcoin (except for it does to approximately 2 times faster), we can indicate crucial price levels to give you an outlook on what can happen to the price of Tezos if Bitcoin grows, falls, or keeps relatively stable.
On the weekly chart, we see that Tezos seem to have bottomed at around $0.4, which is also close to the levels of initial listing in 2018. This represents strong support, which can hold XTZ from moving lower in case Bitcoin experiences another slump or surge.

On the other hand, if Bitcoin continues to slowly ascend or keeps moving within a narrow price range, Tezos might go up to its key zones of resistance. The first zone is between $1.1 and $1.45, which is followed by a choppy zone until $2.5. The next major resistance is on $5.5, and then there is a low-volume zone with the ATH on ~$12. In order to go higher by the end of 2019.

Tezos will need the blend of Bitcoin’s relative stability, strong bullish indicators and hot news about fundamental improvements. Currently, there is not enough momentum for significant growth, MACD is rising, but it’s not yet positive and RSI is neutral on the weekly timeframe .
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