Based

bullish

Tezos

<p>In the weekly chart, the XTZ price action shows a bullish recovery at play. With three consecutive bullish weekly candles, the resurgence in buying pressure has overcome the long-coming downtrend.&nbsp;</p>   
<p>Is this bullish reversal ready for a new all-time high? Let's find out.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-tezos-xtz-price-analysis">Tezos (XTZ) Price Analysis</h2>   
<p>Starting a bullish turnaround from $0.594, the recovery rally has lifted the XTZ prize by nearly 100%. It has reclaimed the $1 psychological mark and has surpassed the 23.60% Fibonacci level at $1.119.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <img src="https://coinpedia.org/wp-content/uploads/2024/11/image-185-1024x509.png" alt="XTZ Price Analysis" class="wp-image-381639">
</figure>   
<p>&nbsp;<a href="https://www.tradingview.com/x/wIC5EFYy/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>Currently, the altcoin is trading at $1.1803 following the 47% surge last night. The bullish recovery has surpassed the long-coming resistance trend line and the 50-week EMA line.&nbsp;</p>   
<p>The higher price action in the weekly candle comes from the 200-week EMA near the 38.20% Fibonacci level priced at $1.65. As the bullish trend inches closer to its 52-week high at $1.59, the chances of a new all-time high have significantly increased.&nbsp;</p>   
<p>As the broader market recovers, the uptrend will likely challenge the 38.20% Fibonacci level at $1.65 for a new 52-week high.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-technical-indicators">Technical Indicators:</h3>   
<p>EMA: Supporting the bullish trend, the uptrend in the 50-day EMA increases the chances of bullish crossovers.</p>   
<p>MACD: The MACD and signal lines regain positive alignment and bullish gap with a surge of green histograms.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-xtz-price-hit-a-new-ath">Will XTZ Price Hit a New ATH?</h2>   
<p>If the altcoin sustains a closing price above the 23.60% Fibonacci level this week, the bull run will likely exceed the 200-week EMA. Based on the Fibonacci levels, the bullish trend continuation will likely reach the $2.27 mark before 2024.&nbsp;</p>   
<p>However, the Fibonacci levels also paint a price target of $18 if the altcoin surpasses its all-time high of $9.145. Nevertheless, the altcoin is currently trading at a discount of $87 from its all-time high.&nbsp;</p>   
<p>Conversely, a bullish failure could retest the $1 psychological mark or the 50-week EMA at $0.85 for a potential retest of the trendline breakout.&nbsp;</p>   
<p>With the long-coming conclusion of the bear trend, will a reversal rally improve the chances of reaching $100? Find out now in Coinpedia’s latest <a href="https://coinpedia.org/price-prediction/tezos-xtz-price-prediction/" target="_blank" rel="noreferrer noopener">Tezos price prediction</a>, as it signals a buying opportunity.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732005507385">
  <strong class="schema-faq-question">What is the current price action of Tezos (XTZ)?</strong> 
  <p class="schema-faq-answer">Tezos is trading at $1.1803 after a 47% surge last night, marking nearly a 100% rally from its recent low of $0.594.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732005513589">
  <strong class="schema-faq-question">Can XTZ surpass its all-time high of $9.145?</strong> 
  <p class="schema-faq-answer">Based on Fibonacci projections, Tezos could potentially reach $18 if it breaks past its previous all-time high of $9.145.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732005513745">
  <strong class="schema-faq-question">What are the key resistance levels for XTZ in the ongoing recovery?</strong> 
  <p class="schema-faq-answer">The critical resistance levels include the 38.20% Fibonacci level at $1.65, followed by the 200-week EMA and a 52-week high at $1.59.</p> 
 </div> 
</div>

XTZ Price Analysis: As Bulls Target $2.27, Is $18 a Realistic Target?

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