The Tezos (XTZ) price is exhibiting positive signs in the long-term but has yet to confirm a successful reversal in the short-term. XTZ, the native coin of the Tezos blockchain, began its decline in September 2021 and hit its lowest point at $0.70 in December 2022. However, in February 2022, the XTZ price broke out from a downward resistance line, which indicates a possible reversal. Despite this, the price was rejected by the $1.30 resistance level and formed a long upper wick. This is a warning sign of increased selling pressure. The RSI dropped below the 50 line, which further highlights the significance of the resistance.

If the XTZ token price succeeds in breaking out of the resistance at $1.30, it could surge to its next long-term resistance at $2.90. On the other hand, if the bounce fails, the XTZ price could take a dive back to the December low of $0.70. In terms of its six-hour time frame, the chance of a rally towards $1.38 is likely if it does not close below the ascending support line. The RSI is currently indecisive and the price has not seen a considerable price increase yet.

In conclusion, the indications are optimistic overall but a valid Tezos price prediction cannot be made until a successful breakout or a fall below the ascending support line is made. If the breakout is validated, the XTZ price can climb to $1.38, while a failure could cause a return to the $0.70 low.



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