RATE Group | Tezos price hovers near all-time high as cryptocurrencies bleed
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Tezos price hovers near all-time high as cryptocurrencies bleed

20 Feb Tezos price hovers near all-time high as cryptocurrencies bleed

Posted at 07:48h in Cryptocurrency News by

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  • Tezos defies a broad-based crypto selloff to record an 8.87% growth in 24 hours.
  • Tezos price remains relatively bull despite the resistance at $3.90.

The bloodshed in the cryptocurrency market seems to be taking a breather. The week’s trading has been mostly bearish with instances of bullish reversals. However, for Tezos the situation is a bit different considering the prominent 8.87% growth in the last 24 hours.

Following the dip from the all-time high at $3.94 (Fibo swing high), the price embraced the support offered by the 50 SMA on the 1-hour chart and the ascending trendline support. A reversal from the support defied the bearish pressure across the market as the price stepped above the resistance at $3.80. The barrier at $3.9 was too strong for the bulls and the trend culminated in a shallow correction to $3.76 (market value).

Tezos price technical picture

The bulls remain relatively in control despite the correction from the all-time high. There is…

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