Tezos technical analysis: XTZ/USD breaks into the top 10 coin list, following exchange listings

From Wednesday to Thursday, XTZ/USD jumped up from $1.47 to $1.76 in a two-day period.
With a market cap of $1,125,561,859, Tezos has overtaken Stellar and broken into the top 10 coins list (by marketcap).
Kraken has listed XTZ and Binance US is currently evaluating it.
Ledger Live has added support for Tezos staking.

XTZ/USD daily chart

Buoyed by the news of its listing on Kraken, XTZ/USD took off on Wednesday and over the course of two days, the price went up from $1.47 to $1.76. Currently, the bears have stepped in to correct the price to $1.72. The daily price is floating above the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum.

XTZ/USD four-hour chart

The four-hour XTZ/USD chart is floating above the SMA 20, SMA 50 and SMA 200 curves. The price had peaked above the 20-day Bollinger Band, indicating that it was overvalued. Since then, the bears managed to step back in and bring the price back inside the Band. The Relative Strength Index (RSI) had kissed the edge of the overbought zone and has now dropped down to ~67.

XTZ/USD hourly chart

The hourly XTZ/USD chart had earlier broken above the red Ichimoku cloud and was trending in an upwards channel formation. The bulls tried to break above the channel twice but failed to do so on both occasions. XTZ/USD then crumbled under selling pressure and fell on the upward trending line. Following that, the bulls were able to re-enter the fray and took the price back inside the channel. The Elliott Oscillator has had four straight red sessions.

Kraken lists Tezos

As earlier reported by FXStreet, Kraken - one of the biggest exchanges in the world - has added Tezos. The San Francisco-based crypto exchange had announced that they would begin offering a staking service which will compensate wallet holders with financial rewards. The first coin that will be staked will be Tezos. The staking will be done this Friday, December 13, with a potential 6% annual return.

Last month, Coinbase - one of the most well-known exchanges in the world - launched a staking service on its platform, beginning with Tezos. This announcement had triggered a rise in XTZ/USD’s price from $0.88 to $1.34 over the month of November.

Ledger Live adds support for Tezos staking

Ledger is one of the most well-known names in the security and infrastructure solutions in the cryptocurrency space. Ledger Live announced that they will start supporting Tezos. Their users will be able to manage XTZ and grow their assets through staking. Since Ledger is a hardware wallet as opposed to an exchange, it allows its users to stake through a single app without giving up control of the private keys.

Binance US evaluating Tezos

Binance announced its Binance US branch back on September 18. Recently, they revealed that they are considering the following tokens for consideration - Celer Network (CELR), Decreed (DCR), Enjin Coin (ENJ), Fantom (FTM), Icon (ICX), IOST (IOST), Komodo (KMD), OmiseGo (OMG), Harmony (ONE), Ontology (ONT), Ren (REN), Status (SNT), Theta (THETA), TomoChain (TOMO), Tron (TRX), NEM (XEM), Tezos (XTZ), and Hedera Hashgraph (HBAR).

Binance US CEO Catherine Coley stated that the company will take whatever measures it deems necessary to prevent fraud during the issuance of these tokens:

Binance.US recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binanace.US has both legal obligations and moral duties to shield our users from fraudulent blockchain projects and combat financial crimes.

Key Tweets

Jeremy Ross:

Ethereum is what happens when some really bright kids have an idea. Tezos is what happens when JP Morgan learns about that idea.

฿TF%$D!:

IMO: #Tezos belongs in the top 5 for market cap.

Squeeze:

4% of my networth is in Tezos. Have been holding since ICO. Small amount but I have a good feeling that that this is gonna be my ETH in the next bull run. The resilience of the price during the BTC dump is telling enough.

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