- Tezos price hovers around $0.60 after gaining 4% in the last 24 hours.
- XTZ is eyeing a potential move above $0.70 as cryptocurrencies show bullish momentum.
- If buying pressure persists, bulls could target $1.50, supported by several bullish catalysts.
Tezos (XTZ) is among the altcoins showing signs of a possible rally, with a 4.4% gain over the past 24 hours helping bulls keep the price above a key level.
While overall market sentiment remains mixed, Tezos could benefit from rising on-chain activity and growing interest from developers and investors.
Tezos price rises 4% as bulls show resilience
XTZ has shown notable resilience amid increasing DeFi activity on the network.
Recent market data show Tezos price up more than 4% in the last day, driven by buyer accumulation near the $0.60 zone.
Bullish momentum even pushed buyers to retest the $0.62 mark.
Bullish momentum has been supported by several positive developments, including a partnership between the Tezos Foundation and the Museum of the Moving Image, and growing enthusiasm around collaborations like Etherlink and Google Cloud.
Last week the Tezos team shared key ecosystem metrics that indicated growth.
Among them, Etherlink’s Total Value Locked (TVL) rose above $70 million, while Tezos DeFi TVL surpassed $36.7 million.
The blockchain’s network value increased 22.5% quarter-over-quarter, and Etherlink processed more than 20.5 million transactions.
Highlighting Etherlink as important for Tezos scaling, blockchain analytics provider Messari noted that these numbers reflect a deliberate strategy, with many new integrations, liquidity programs and incentives launching on Etherlink as a path for Tezos rollup scaling.
Messari published its report at the end of September.
Notably, the surge in on-chain activity coincided with user adoption of key protocols such as Curve, Superlend, Midas, Youves and Sirius.
The increase in TVL and transaction volume suggests builders are actively expanding within the Tezos ecosystem, which could strengthen investor confidence and support XTZ’s price.
Tezos price outlook: is $1.50 next for XTZ?
At present, XTZ trades near $0.59, reflecting a 24-hour gain of more than 3.3%.
Data show the altcoin pulled back slightly from intraday highs of $0.62.
However, bulls are attempting to prevent bears from pushing the price down to intraday lows around $0.57.
Chart: Tezos price from TradingView
Technically, Tezos is trading near the resistance line of a falling wedge pattern.
In recent weeks bulls have retested the area near $0.70, and a successful break and retest of that zone could open a path toward a broader range between $1.20 and $1.57.
The daily RSI points to potential divergence and currently sits close to neutral, suggesting room for directional movement depending on momentum.
XTZ’s climb to $0.62 has been accompanied by rising volumes, indicating buyers may be positioning for a continued upside reversal.