The Tezos price prediction reveals that XTZ is facing the south as further downside may likely reach the critical support level at $0.65.

Tezos Prediction Statistics Data:

• Tezos price now – $0.68
• Tezos market cap – $646.6 million
• Tezos circulating supply – 950.9 million
• Tezos total supply – 971.9 million
• Tezos Coinmarketcap ranking – #49

XTZ/USD Market

Key Levels:

Resistance levels: $0.85, $0.90, $0.95

Support levels: $0.55, $0.50, $0.45

XTZ/USD is seen sliding below the 9-day and 21-day moving averages as the coin prepares to create more lows before it can start another increase. After struggling to touch the $0.68 high today, the Tezos price begins a slow and steady decline towards the south. Therefore, as the coin faces another fresh bearish movement, it may target the key support at $0.65 and the price could move into a long-term bearish zone.

Tezos Price Prediction: Tezos May Create More Downs

The Tezos price is currently exchanging hands at $0.68 and any attempt to remain below the 9-day and 21-day moving averages may likely bring it toward the lower boundary of the channel. However, traders may experience a quick buy if the trade reaches the support at $0.65 but traders should keep their eyes on the resistance levels of $0.85, $0.90, and $0.95.

Meanwhile, if the price fails to rebound, a bearish breakout is likely to trigger more selling opportunities for traders, which might cause the price to retest $0.60 and could further drop to $0.55, $0.50, and $0.45 support levels. The technical indicator Relative Strength Index (14) is moving below 40-level and if the signal line moves downward, the coin may fall more.

XTZ/BTC Could Move Sideways

Against Bitcoin, the Tezos price is seen moving down as the coin stays below the 9-day and 21-day moving averages. However, if a rebound plays out, the Tezos price may face an upward trend, and the bullish movement could take the coin to the resistance level of 2900 SAT and above.

However, if the bulls fail to hold the bearish movement, the coin may likely fall toward the lower boundary of the channel, and the nearest support level could be located at 2400 SAT and below. The technical indicator Relative Strength Index (14) is moving in the same direction below the 50-level, which could indicate additional bearish movement.

Tezos Alternatives

At the moment, the Tezos price could begin to recover toward the resistance level of $0.70. Meanwhile, the initial break above the 9-day moving average could boost the price up and the coin may create another high if the coin crosses above the 21-day moving average.

Despite this, when it comes to $WSM, team tokens are non-existent. Wall Street Memes boasts an exceptionally strong and active community, making it advisable to invest in the token now rather than later. Meanwhile, the token has already raised more than $25 million as the official launch approaches.

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• Source: https://insidebitcoins.com/news/tezos-price-prediction-for-today-september-2-xtz-technical-analysis