• The coin has gained over 5% in recent 24 hours.
  • The bearish scenario might have been triggered by whale transactions.
  • Tezos enjoys a steady flow of positive news.

Tezos  (XTZ) is the best-performing digital asset today. The coin has gained over 6% of its value in recent 24 hours while all Bitcoin and all major altcoins have stayed in tight ranges amid low trading activity. At the time of writing, XTZ/USD is changing hands at $1,6300 after hitting a multi-month high at $1,6513 during early Asian hours. 

Tezos has just taken over Cardano by market capitalization. Th coin now sits on the 11th place with the current market value of $1 billion. Notably, the coin has been growing strongly since December 5 and gained over 28% in recent seven days.

Whale alert

A large transaction registered by a whale alert service may hold a key to Tezos strong performance on Monday

500,000 XTZ (800,323 USD) transferred from unknown wallet to Binance

While thee about is much smaller than the ones registered for Bitcoin on the previous week, it might be enough to trigger buying spree on the market.

Strong fundamentals

Tezos has enjoyed a steady flow of positive news recently. Thus, Binance recently announced support for zero-free Tezos staking, which means that users with ZTX on their Binance accounts are now eligible for staking rewards.

In a separate development, French police implemented Tezos blockchain to judicial expenses incurred during investigations.

Tezos, the technical picture

The daily RSI (Relative Strength Index) stays in the overbought territory, though it still points upwards. It means that the coin retains bullish potential in the long run. However, the price jumped above the upper lines of both daily and weekly Bollinger Bands, which makes it vulnerable to the downside correction with the fist aim at $1.5500.

On the upside, a sustainable move above the intraday high will open up the way to $1.7000.

XTZ/USD, the daily chart

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