Tezos Price Analysis: XTZ Aims To Break $3 Despite Heavy Resistance

XTZ, the native cryptocurrency of the Tezos blockchain, could enroll itself in the list of those cryptocurrencies that surprised the cryptocurrency industry during the past few months with their stunning price performance. Most of the digital currencies were even able to enter the bullish race at the beginning of the current year but nothing could kick off XTZ’s price upward. Over the course of the past few weeks, the coin has been struggling to achieve the mark of $3 where it is currently facing heavy resistance. But despite this resistance, the token is once again preparing to retest it.

XTZ Statistical Data

• The market capitalization of XTZ is standing at around $2,227,064,363 out of the total market cap.
• $443,131,375 is the 24-hour trading volume of the coin.
• The circulating supply of XTZ is standing at around 757,135,005 XTZ.

Tezos Price Value

The price value of XTZ is trading at around $2.93 with a change rate of 4.64 percent in the last 24 hours, at the time of writing.

Tezos Price Analysis

Tezoz’s XTZ has now started moving in an upward direction and is trying to gain momentum. Over the course of the last 24 hours, it has posted a price rally of nearly 6 percent which helped the coin to get its hands onto the crucial support level of $2.9 around where it is trading at the moment.

Image Created Via Trading View

After gaining this crucial support level, the nineteenth-ranked digital currency is once again aiming to retest the resistance level of $3. As the price of XTZ is up by more than 5 percent at the press time, this means that the coin is currently in a great momentum which may help it in breaking above this figure. It is important for the coin to clear this hurdle in order for the coin to reach its all-time high value which stands above the figure of $4. If it is unable to break this barrier in the coming days, it won’t be able to have control over its bulls.