Tezos (XTZ) is expanding its presence and popularity, and is on the verge to line up among top 10 coins by market capitalization. XTZ is one of the few Altcoins with a market cap above $1 billion.
Tezos has already climbed by more than 24% since last week, and its appreciation is speeding up, with predictions of new highs in 2020. It looks like the all-time high near 1.8490 will be test eventually as the bulls remain in charge. If you look at the Volume indicator it seems that the market is really behind this move which is refreshing to see in the current low volume environment.
The H4 XTZ/USD chart now is floating above the SMA 50 and SMA 200 curves. Early this morning the price had peaked above the 20-day Bollinger Band, indicating that it was overvalued. But the bears managed to step back in and bring the price back inside the BBs. The Relative Strength Index had kissed the edge of the overbought zone and has now dropped down to 64. Also MACD indicates increasing bullish momentum.
On downside, the first support is at 1.70, followed by the middle Bollinger Bands line at 1.5672.
But remember, that though Tezos offers better short-term gains in comparison to lagging Altcoins, the asset remains risky.
What is your opinion?
Tezos has already climbed by more than 24% since last week, and its appreciation is speeding up, with predictions of new highs in 2020. It looks like the all-time high near 1.8490 will be test eventually as the bulls remain in charge. If you look at the Volume indicator it seems that the market is really behind this move which is refreshing to see in the current low volume environment.
The H4 XTZ/USD chart now is floating above the SMA 50 and SMA 200 curves. Early this morning the price had peaked above the 20-day Bollinger Band, indicating that it was overvalued. But the bears managed to step back in and bring the price back inside the BBs. The Relative Strength Index had kissed the edge of the overbought zone and has now dropped down to 64. Also MACD indicates increasing bullish momentum.
On downside, the first support is at 1.70, followed by the middle Bollinger Bands line at 1.5672.
But remember, that though Tezos offers better short-term gains in comparison to lagging Altcoins, the asset remains risky.
What is your opinion?
Order cancelled
Both downside targets was reached
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✅ JOIN FREE TELEGRAM: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.