Tezos Arrives To The Altseason Party After 22% Surge: Analysis

Tezos arrives at the altseason party after today’s 22% surge, approaching the March level of $3.3, gaining 33% in the past week. In our latest Tezos news, we are reading more about the price analysis. It resumed the mid-term bullish trend after the break above the crucial resistance line of the trading pairs.

After the June 6^th recovery from the $2.2 level, Tezos arrives at the altseason party with a level established around $2.4 and continued to show strength over the past days. The price is now charging back to the $3.14 level following the massive 15% increase over the past 24-hours. It is now changing hands around $3.1 against the US dollar following the recent break from the 4-week resistance. Tezos is maintaining a strong bullish trend on the charts. A short pullback could come into play if the buyers fail to go further. Considering the past 24-hour volume on the market, bullish actions could be expected.

For another pullback to happen, the critical price to keep in mind is now set at $2.85. If this level fails to bolster as a support for the bulls, it could look for another level at $2.75 followed by the key break level of $2.69 over the weekend. The bears could take over the trend if the price slips back under the white trend line.  The current short-term increase will encounter small resistance at $3.3 before going to $3.5 in the upcoming hours. If Tezos can close well above the mentioned price levels, it could reclaim the high set in February at $3.9. Looking at the price setups from a technical perspective, the price could increase twice as much in the next few days.

Against Bitcoin, Tezos is looking quite bullish after the surge above the crucial resistance line that was forming for over a month now. The increase became important after gaining 11.56% overnight. It started the week bullish with about 18% gains as the buyers resumed the pressure from the monthly correction of 24760 SAT. This level is now the base support for the XTZ/USD pair.
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XTZ trades at around 32350 SAT at the time of writing.

After surpassing the 32100 SAT today, the price of Tezos is charging towards the 34000 SAT level. If it manages to claim it, the next target will be set at 37900 SAT level, right in the center of the altseason. The price could drop a bit to 30440 SAT before bouncing back and the following support to watch is the 29700SAT level.