Today’s cryptocurrency market momentum remains somewhat difficult to gauge. One notable exception is the Tezos price, which seems to be on quite a tear as of late. Setting a new all-time high is certainly possible, all things considered.
Tezos Price is Rocketing
In recent weeks, numerous markets have shown a strong increase in value. One market many people considered to be underperforming was Tezos. Its momentum has been a late bloomer so to speak, but it is pretty significant regardless. Because of this momentum, the Tezos price has gained 55.5% in the past 30 days.
While most people are looking at XTZ/USD, the gains in XTZ/BTC are equally impressive. The only difference is how XTZ/ETH is not doing too well, and shows signs of reversing once again. That is only normal, as ETH has been very bullish, although surpassing $400 seemingly remains out of the question, for now.
Social Sentiment is Buzzing
All facets of social engagement are in the green where Tezos is concerned. A healthy increase in social volume, bullish sentiment, social contributors, and social dominance is very significant. Maintaining this strong momentum is not easy, but it certainly can be done.
Especially the bullish sentiment has noted a strong increase, as it rose by 3.7%. The social dominance increased by 59.5%, which is a rather astonishing development. The more people talk about Tezos, the higher the price trends to go – instead of the other way around.
Very Healthy Liquidity
It is crucial for any cryptocurrency to achieve plenty of liquidity to make a real difference. Any project unable to generate over $500 million in market cap liquidity is usually not worth looking into at this time. Tezos is an entirely different creature, as it maintains liquidity of over $3.25 billion. This puts it ahead of EOS, BNB, TRON, VeChain, and Monero.
In terms of on-chain transaction volume, Tezos is doing alright. It ranks 14th, with $81.394 million. Nothing to get overly excited about, but it is more than sufficient under the current circumstances. Remaining ahead of TRON is always a good thing, at least for statistics like these.
Tezos Price Technical Indicators
Looking at the XTZ/USDT chart for Binance, things are getting rather interesting. Very strong green candles are forming in recent days, although there will be some pushback along the way. It is evident that a lot of people have been waiting to take profits, thus some minor volatility is to be expected over the coming days.
On the indicator front, the MA20 continues to inch ahead of the MA50 and MA200. The Bollinger Bands are widening as well, further confirming that liquidity is not an issue. With the RSI continuing to move up in overbought territory, the push to a new all-time high remains in full effect.
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