Tezos technical analysis: XTZ/USD spikes up following Coinbase listing
- XTZ/USD is currently priced at $1.25.
- This Tuesday, the daily price chart went above the SMA 20 and SMA 50 curves.
XTZ/USD daily chart
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Following the Coinbase listing, XTZ/USD spiked from $1.01 to $1.22 this Tuesday. The price went further up to $1.25 in the early hours of Wednesday. Tuesday’s price action went past both the 20-day simple moving average (SMA 20) and SMA 50 curves. The moving average convergence/divergence (MACD) indicator shows increasing bullish momentum.
XTZ/USD 4-hour chart
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The 4-hour XTZ/USD chart is trending above the green Ichimoku cloud. The price is currently trending in a downward wedge formation. The SMA 20 has crossed over with the SMA 50 curve, which is a bullish sign. The Elliot oscillator shows increasing bullish momentum.
XTZ/USD hourly chart
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The hourly XTZ/USD shows that the relative strength index (RSI) indicator is trending in the overbought zone. The SMA 20 and SMA 50 curves have both crossed over with the SMA 200 curve, which is a bullish sign. The 20-day Bollinger jaw is widening, indicating increasing market volatility.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
