based on materials from the site - By CoinPedia News
Tezos is currently leading the growth, rising more than 8% in the last 24 hours. This bullish surge is occurring amid the expansion of Etherlink Layer 2 and growing interest from institutional investors, spurred by innovative tokenized products from Mida.
Traders and investors are closely watching the price of XTZ as it breaks through resistance levels. Will this momentum be sustained, or is it a short-term correction that is closer than you think? Join my short-term XTZ price forecast.
Tezos' TVL has recovered
Tezos' DeFi activity has shown strong growth: the total locked value has increased by 8% to $45.43 million. The upward trend in TVL after several months of stagnation indicates a revival of confidence and increased capital inflow, reflecting the rise in price and trading volume. This DeFi market momentum aligns with the success of tokenized offerings from Etherlink and Mida.
Tezos is attracting public attention with impressive price dynamics. XTZ is currently trading at $0.7775, which signifies a daily gain of 8.05% and an impressive jump of 25.74% over the last week. The market capitalization follows suit, reaching $824.24 million. Meanwhile, the 24-hour trading volume has surged by 231.54% to $189.6 million, confirming increased trader activity and renewed enthusiasm.
From a technical standpoint, the chart I presented shows that Tezos has decisively broken out of its previous consolidation range. The recent price dynamics have led to XTZ soaring from a low of $0.6837 to a 24-hour high of $0.8212. The next obstacle is at the $0.80 level, while the visible resistance band extends up to $0.85 for XTZ.
Conversely, the key support level is set at $0.7179. Any retracement to this level may attract buyers who missed the initial breakout, provided the overall bullish structure is maintained.
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