Wednesday, October 27, 2021
HomeNewsXTZ Price Analysis: Reward System Lifts XTZ/USD Towards $2.9 After Coinbase-Tezos Declaration

XTZ Price Analysis: Reward System Lifts XTZ/USD Towards $2.9 After Coinbase-Tezos Declaration

*Tezos exchanged higher on Thursday since most of the crypto majors exchanged alongside Bitcoin
*There are some bullish reports about the Tezos reward system lifting XTZ/USD to $2.9 after Coinbase-Tezos Declaration
*Coinbase, a massive crypto exchange gives an effective, reliable method for the U.K. as well as certain [euro zone] clients to fully participate in the Tezos network

XTZ/USD Daily Chart: Ranging

XTZ/USD Daily Chart

Price action for the XTZ/USD pair has strengthened from the March 12 decline and has once again become steadily bullish. The market price on the daily is back beyond both the MA 200 and MA 50 which is a powerful sign of consistent bullish bias in the market. Further upward resistance is at $3.33 and $3.50 levels while grounded horizontal support is at $2.5 and $2.26 levels.

Tezos (XTZ) pulled up further from May 24th downward bias after being unable to crack the ascending trendline support, suggesting the bulls are actively guarding the advance. In the past few days, the pair have constantly exchanged beneath the MA 200 and MA 50 on the 4-hour time frame. A split underneath may have initiated a fresh downtrend.

Note:  is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

RELATED ARTICLES

Most Popular