Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: Tezos (XTZ) bucks bearish crypto market trend, grinds higher with strong bullish momentum

Thu, 12 Dec 2019, 11:42 am UTC

XTZ/USD chart - Trading View

Exchange - Bitfinex

Support: 1.8652 (May 2019 high); Resistance: 1.3845 (21-EMA)

Technical Analysis: Bias Bullish

Tezos has defied the general bearish crypto market trend and has been on a steady rise since October.

After Binance and Ledger, Kraken is set to activate Tezos staking support on Friday.

XTZ/USD has developed a sustainable bullish momentum and we see scope for further highs.

A 'Golden Cross' (bullish 50-DMA crossover on 200-DMA) on the daily charts is set to buoy prices.

GMMA shows shift in major trend to bullish. Momentum is strongly bullish. That said, overbought oscillators can cause minor pullbacks.

The pair saw minor weakness on account of a 'Double Top' formation, but downside held above 200H MA.

Scope for test of 1.8652 (May 2019 high). Retrace below 21-EMA could negate near-term bullishness.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,187.54 (-2.18%)
  • Ethereum (ETH) $239.31 (-2.71%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $237.17 (-2.36%)
  • Bitcoin SV (BSV) $180.95 (-3.95%)
  • Bitcoin (BTC) $9,187.54 (-2.18%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft