Tezos (XTZ) Price Prediction Weekly (JUNE 2022): Will XTZ Price Regain its Position Above INR 200?

Key Takeaways: 

• The XTZ price close the previous day’s trade at INR 151.57 with a market capitalization of INR 135.75 billion and a circulation supply of 897,241,990.77 XTZ 
• The asset is utilizing all its resources to halt the descending trend by consolidating within a parallel channel aiming to regain the lost levels closer to INR 200
• The price may eventually rise by another 15% to 18% and recover from the May 2022 losses in the upcoming days this month

Tezos Price Analysis: Will XTZ Price Hit INR 200 This Week of June?

The Tezos price ever since the beginning of October 2021 trade maintained a strong descending trend. The asset is currently attempting to flip the downtrend by consolidating within a parallel channel. Currently, a significant buying volume has been accumulated that may push the price until the day’s close or the next day’s trade. 

However, the buyers may get exhausted or could relax a bit to prepare for the next price action. And hence a slight pullback from INR 175 levels may be expected that may drag the price back below INR 170. Yet the prices may stabilize and rise above INR 180 by the end of the week. An extended bull run may enable the price to rise close to INR 200. 

Tezos Price Prediction: XTZ Price Trend Comparison with XRP (Last 30 Days)

Source: Tradingview

• Tezos and XRP are among the blockchains which are independent and intend to overcome the loopholes of the Bitcoin or Ethereum network
• Both the assets maintained a decent trend until the market collapsed in the first half of May and reached the levels around -43.85%.
• Since then, the XTZ & XRP price consolidated within a narrow range for nearly a week between -40% and -45%
• However, XTZ price quickly jumped in action and surged significantly and recovered to reach the levels around -31.82%
• On the other hand, the XRP price continued to consolidate until the press time and currently hovering around -43.85%

Correlation of XTZ/USDT and XTZ/BTC (Last 30 Days)

Source: Tradingview

• Tezos price until the close of May’s trade maintained equilibrium in both the USDT & BTC pairs
• After the infamous market crash in May, both the rallies decoupled and continued with their independent rallies ahead
• The XTZ/USDT pair dropped hard from the average levels to as low as -48% and quickly recovered to the current levels around -31.84% after a couple of ups and downs
• While XTZ/BTC pair after dropping from the same levels flipped quickly and had almost reached the average levels, while the bears dragged the price -12% at the press time
• Currently, both the assets are heading strongly towards the north and hence a significant upswing may make its way out

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*Prices are of 06 June 2022 at 01 pm

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*Prices are of 06 June 2022 at 01 pm

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