Crypto Technicals: XTZ/USD soars over 30% as Coinbase announces secure staking rewards on Tezos
Thu, 07 Nov 2019, 07:13 am UTC
XTZ/USD chart - Trading View
Exchange - Kraken
Support: 1.0403 (100-DMA); Resistance: 1.1433 (200-DMA)
Technical Analysis: Bias Bullish
Tezos spiked over 30% since Wednesday from around $0.90 to highs of $1.2522.
XTZ/USD has erased some of the day's gains and was trading at 1.1216 at 07:00 GMT.
The surge was a result of and announcement on Wednesday from Coinbase, a leading U.S. cryptocurrency exchange that it has started offering “easy, secure way to earn staking rewards on Tezos.”
Tezos bucked the general crypto-market trend to surge higher. Technical studies have turned bullish.
Stochs and RSI are sharply higher. Price action has broken above daily cloud and 100-DMA.
200-DMA is stiff resistance at 1.1433. Close above will see test of 61.8% Fib at 1.4854.
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