Tezos (XTZ) Breaks Out Of A Falling Wedge As Price Could Hit $2 Mark

XTZ's price shows a spark of strength as price breaks out from a descending triangle as price eyes $2 with good volume.  XTZ continues in a range-bound downtrend movement as the price aims to breakout.

Timeline of Tezos

Tezos price analysis is bullish for today, as an increase in price up to $1.40 has been observed. The bulls have been successful in crafting a slight upwards trend line for the price function during the last 24-hours, and the trend is the same at the time of writing as well.

Tezos price analysis is bearish as the cryptocurrency has experienced a fall in the past few hours. Bears have taken control of the market, but the coin value rose from $1.245 on October 14, 2022, and reached $1.435.

Tezos price analysis is bearish as the cryptocurrency has experienced a rise in the past few hours. Bulls have taken control of the market, and the coin value rose from $1.274 on October 14, 2022, and reached $1.435.

Tezos price analysis is bearish as the cryptocurrency has experienced a rise in the past few hours. Bulls have taken control of the market, and the coin value rose from $1.403 on October 9, 2022, and capped at $1.421; bulls continue to rule the market today; however, a price increase is imminent.

Tezos price analysis is bearish as the cryptocurrency has experienced a fluctuating movement in the past few days. Bulls are trying to engulf the market as all their efforts are in vain, and the coin value fell from $1.425 on October 8, 2022, and capped at $1.

Today's Tezos price analysis reveals that prices are on a prevailing downtrend that has been seen since yesterday's market rally. The 2.15 percent drop in prices has decreased XTZ to $1.40 from the intraday high of $1.44.

The latest Tezos price analysis suggests a bearish trend for today and supports sellers as the price has undergone a considerable decrease since morning. Although the bears were in the winning position, a downtrend has been following the price since the start of this week.

Tezos, a layer 1 blockchain, activated an upgrade dubbed Kathmandu on Friday (23 September), according to a tweet from the team. The Kathmandu upgrade reportedly went live on Friday at block 2,736,129 of the Tezos proof-of-stake (PoS) mainnet.

Proof-of-Stake (PoS)-based blockchain, Tezos [XTZ], upgraded a protocol on its mainnet. The upgrade, called Kathmandu, was first proposed to the Tezos community in July, and was the eleventh time there has been an upgrade.

Tezos prices have been erratic over the previous few months, with bears predominating and a decline of 8.87% over the last week. Currently trading at $1.45 Tezos had a significant drop in the midst of June, reaching the support level of $1.19, before recovering.