Crypto Technicals: Tezos hits 2-week high after Coinbase listing, breaks above 100-DMA

XTZ/USD chart - Trading View

Exchange - Kraken

Support: 1.0780 (Cloud base); Resistance: 1.3805 (Cloud top)

Technical Analysis: Bias Bullish

Tezos extends spike for the 2nd straight session, trades over 6 percent higher on the day at 1.29 at 06:50 GMT.

XTZ/USD was buoyed by news that Coinbase will be supporting Tezos (XTZ) across their platforms

RSI and Stochastics indicators show increasing bullish momentum and the pair is on track for further upside.

The pair has broken above 100-DMA (1.2455). Next major resistance lies at cloud top at 1.3805.

Breakout above cloud will take the pair to new highs. Test of 61.8% Fib at 1.5125 then likely.

Failure to hold above 100-DMA may see retrace till cloud base. Breach below cloud will drag the pair lower to test 200-DMA.

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