RATE Group | Sideways Bitcoin Price Stalls Tezos (XTZ) 200% Rally to a New All Time High
86801
post-template-default,single,single-post,postid-86801,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Sideways Bitcoin Price Stalls Tezos (XTZ) 200% Rally to a New All Time High

27 Apr Sideways Bitcoin Price Stalls Tezos (XTZ) 200% Rally to a New All Time High

Posted at 03:09h in Bitcoin News by

Since dropping to a 2020 low at $0.93 on March 12, Tezos (XTZ) had been absolutely on fire, gaining 207% and within close distance of its all-time high at $3.96. For investors, the only question left now is, when will it stop? 

Crypto market daily performance

Crypto market daily performance. Source: Coin360

Typically such large moves begin to show signs of overextension as the asset becomes overbought and traders eventually decide to take profits. At the moment Tezos appears to be correcting a tad bit as the price has pulled back 5.69% since reaching a monthly high at $2.90, but is the uptrend over or is a period of consolidation beginning? 

Let’s take a closer look at Tezos to see if there are signs that the current uptrend can continue.

BTC USDT daily chart

BTC USDT daily chart. Source: TradingView

Although XTZ has been on a tear in both its BTC and USDT pairs, the altcoin has encountered resistance at the 61.8% Fibonacci retracement levels just as Bitcoin (BTC) and many other altcoins are at the moment. 

As can be seen on the daily…

Source link

Tags:
, , , , , , , , ,