Our XTZ cryptocurrency forecast is primarily for those who trade bought this coin and are now deciding what to do.
To start, it should be said that over the past month, the Tezos price has made a 300% increase, from $2 to $6. This powerful growth wave was almost without corrections, but they are needed.
Sellers take over the initiative in the XTZ market
On the 12-hour timeframe, we see a significant activation of sellers. Although so far their actions are invisible, but analyzing the trading volumes of the XTZ cryptocurrency, this cannot be ignored. On 25 August, we see a powerful growth candle on abnormal volumes, after which the buyers’ trend did not continue:
During the next 2 12-hour candles, sellers tried to radically change the situation in the XTZ cryptocurrency market. Although they did not succeed, buyers’ initiative was clearly beginning to fade. Buyers updated the next local highs at significantly lower volumes and the growth dynamics noticeably slows down. At the moment, it seems that the XTZ price has reached its maximum within the growth wave. This fact confirms the beginning of the consolidation, in which sellers are probably preparing to start the fall of the XTZ market. If you are interested in trading cryptocurrencies with professionals – join our trade marathon!
Therefore, now we hardly believe that the XTZUSD price will be able to grow above $6.25 again in the near future.
Where to buy XTZ cryptocurrency after correction?
The zone where we would personally consider the possibility of buying XTZ cryptocurrency is in the range of $3.60-$4.20. And then the decision about long should be made when the XTZ price approaches this zone.
The thing is that the XTZ growth wave from July 2021 could be just a correction of the May fall impulse. Unfortunately, these difficult times were quickly forgotten by investors in the cryptocurrency market. If this scenario turns out to be real, then it is highly probable that the XTZ price will continue to fall to the level of $2.4. Considering the dangerous behavior of Bitcoin in the range of $48,000-$50,000, such a scenario is worth remembering and not rushing to buy altcoins in the long term and watch XTZ during September.
