Tezos Price Prediction as XTZ Becomes Best Performer – Can XTZ Reach $10?

cryptonews.com:

The Tezos price has witnessed a turbulent 24 hours, rising as high as $0.722733 before dropping 7% to its current level of $0.669953.

This represents a negligible 0.2% gain in a week and a 2% rise in the past fortnight, with the altcoin static in the last 30 days and down by 50% in the last 12 months.

Yet a surge in XTZ's 24-hour trading volume – which rose to $152 million in the early hours of the morning – would suggest that the coin's market is picking up, and that it could enjoy further price gains soon.

Despite the surge of the past 24 hours, XTZ remains in a mixed position as far as its technicals are concerned, which is perhaps not surprising when it has already fell back down to its previous price level.

The coin's relative strength index (purple) remains stuck at around 50, a level which is entirely consistent with further gains or further falls.

Yet XTZ's 30-day exponential moving average (yellow) would imply that rallies are overdue, given that this average remains far, far below the corresponding 200-day average (blue), a gap which signals overselling.

One encouraging detail is the fact that, despite dropping down after last night's brief rally, XTZ hasn't dropped below its support level (green), which continues to rise steadily.

This would imply that XTZ's earlier long/medium-term decline has bottomed out and that the coin is ready to rise again, with last night's move apparently the result of an increase in volume on South Korea-based exchange Upbit.

However, nothing interesting of note has been happening with Tezos on a fundamental level, implying that it's hard to predict when the altcoin will witnessed a sustained and consistent price rise.

Tezos did admittedly mark the release yesterday of some official