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Tezos Price Prediction – XTZ Pump in Late 2022? – Business 2 Community


svg%3Extz price levels 1
The Tezos price has bounced over 40% since the bottom of the crypto crash on the 12th of May 2022. Is it setting up for a new bull run?
That bounce was a strong recovery following Bitcoin’s drop to $26,000 and the Terra (LUNA) crash which also caused a sell-off in DeFi coins.
Tezos (XTZ) printed a swing-low at $1.45 followed by an aggressive impulse move to the upside to $2.15 where it hit a resistance level. Currently $1.78 is a key level of support as XTZ retested that multiple times and showed strength there.

Cryptoassets are a highly volatile unregulated investment product.
With the cryptocurrency market potentially finding it’s bottom, I reviewed the Tezos price chart and some XTZ technical analysis.

The recent price action with two weekly green candles suggests a bullish reversal may be on the way. If we can break back through the $2.14 resistance level with volume.
Combined with a solid retest of resistance, we could see XTZ rally up to around $2.50 again. Currently, the daily RSI (relative strength index) is also at a modest 48.27 as we begin to consolidate at these lower price ranges.
XTZ price predictionXTZ price prediction
Tezos has also broken back through the 20-day moving average on the daily time frame. This can reflect the beginning of a new uptrend.
The weekly RSI has come down to a low of 32.21 on the weekly time frame. This is most likely because we have seen extreme fear in the markets over the last few months. Selling pressure has been high, whilst smart money and whales accumulate from the shaken off retailers.
Cryptocurrency markets are highly responsive to emotions. Those emotions being fear and greed. Many successful investors will choose to find value in fearful market conditions, during extreme-fear phases of a market cycle (bear markets).
That allows for an average entry price closer to the bottom. Traders can’t perfectly time the bottom, but it is important to be close.
XTZ price predictionXTZ price prediction
When scooping up undervalued coins at re-accumulation zones, we can then start to build a long term investment strategy. A $2 XTZ looks like a tempting buy-zone.
Using Fibonacci extensions, we can begin to forecast targets for the next Tezos bull cycle. Some technical targets above the former XTZ all time high ($9.17) are:
Tezos should be able to comfortably reach the $10-15 level if the new supply phase is around the $2-3 levels. From the bear market bottom of 2019 to October 2021 Tezos pumped over 2,300%.
Assuming that each cycle has diminishing ROI% one price target for Tezos could be around a 650% increase from current levels to roughly $13.
svg%3Etezos technical analysis
Tezos price history and Fib levels – monthly chart
With Tezos trading far below the 0.786 Fibonacci retracement level ($3.10) today, this could make XTZ a strong long-term investment.
This week Tezos has already been one of the top crypto gainers, suggesting buy volume and investor interest is high at the current low price of XTZ.
However altcoins are much more volatile than stable blue-chip projects such as Bitcoin. Tezos could still capitulate further to levels below $1 if Bitcoin continues its macro-downtrend to the 200 week SMA, so you might consider dollar cost averaging (DCA) into an XTZ position slowly.

DeFi Coin (DEFC) – Undervalued Project
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  This article was written for Business 2 Community by Jacob Bury.
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