XTZ/USD price gains over 15% in only 24 hours

Written by: Ali Raza
July 13, 2020
  • Tezos price aims to finally breach a resistance at $3.20.
  • This level rejected the coin's price multiple times this year.
  • XTZ's newest attempt comes in the form of a sharp surge, so it might have a chance at it.

Tezos (XTZ) saw quite a price growth over the last 24 hours. January coin is currently up against its largest resistance level at $3.20. XTZ’s is the same level that prevented XTZ from going further up back in February of this year. Now, the coin is testing it again, and if the level breaks, XTZ might be on its way towards a new yearly high.

Tezos rejected by a resistance

In early 2020, XTZ price was rather low. In fact, it was at its lowest point on a YTD chart. It spent most of January at $1.30, although it was relatively stable while there.

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It started surging around Janaury 15th, and it simply kept growing. It broke a major resistance at $1.60, and then one after another. it breached all barriers while approaching $3.20. It hit this level on February 12th, and while most coins saw a bearish wave that forced their prices down, Tezos ignored it.

In fact, the coin attempted to breach this level two more times, and it even succeeded in doing it during its second attempt. That was only a few days after the first one, and it led to XTZ’s YTD high at $3.80.

After that, the resistance rejected its price, and the third attempt to breach this level had failed. Then, the mid-March crash came and went, forcing XTZ back down to its January levels. However, it wasn’t long before the coin started growing again.

In less than two months, XTZ was right back at its resistance, which was a very positive development that decided to buy Tezos while it was down at $1.60.

The coin attempted to breach the resistance at $3,20 two more times, once in early May, and another in early June. However, June turned out to be rather bearish, forcing its price to $2.30. But, a soon as XTZ hit this level, it surged again, and it is currently approaching its resistance at $3.20 once more.

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Tezos price surged by 15% over the last 24 hours, making it one of the largest gainers right now, as it price aims to breach a major resistance. The resistance could finally break, but XTZ could just as easily get rejected one more time.