Tezos hit $4.41 on Monday, its highest price in more than a year. The 12th ranked cryptocurrency by market cap jumped 14.8% over 24 hours to reach $4.18. A red candle formed on the four-hour chart, signaling that the advance is reversing course.
Tezos price hits a 52-week high of $4.41
Tezos hit $4.41 on Monday, its highest price in more than a year. The 12th ranked cryptocurrency by market cap jumped 14.8% over 24 hours to reach $4.18. A red candle formed on the four-hour chart, si
Key Points
- Tezos hit $4.41 on Monday, its highest price in more than a year.
- The 12th ranked cryptocurrency by market cap jumped 14.8% over 24 hours to reach $4.18.
- A red candle formed on the four-hour chart, si
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The bulls had driven strong momentum over the weekend and into this week. Tezos broke through multiple levels of resistance at $3.40, $3.60, and $3.80, moves that suggested further gains were possible. But the technical backdrop is deteriorating. A rising wedge pattern has formed on the charts.
Traders use wedge patterns to anticipate potential reversals. The pattern gains credibility when paired with other indicators like the Relative Strength Index and the MACD. For Tezos, both indicators are now flashing bearish signals. The RSI has declined. The MACD has moved toward its mean line. These readings converge near $4.15, where bears are assembling.
If sellers gain control and prices fall, support will appear at the 50-day and 100-day moving averages positioned at $4.00 and $3.84. Below that, the previous resistance zones at $3.60 and $3.40 would serve as additional support.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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