Tezos (XTZ) grows on OKEx listing news

Tezos, the 21st largest digital coin with the current market capitalization of $580 billion and an average daily trading volume of $14 billion, has gained over 2% in recent 24 hours amid news that one of the world's most popular cryptocurrency exchanges OKEx adds support for the coin. At the time of writing, XTZ/USD is changing hands at $0.8730, The coin bottomed at $0.8500 on Sunday and has been recovering ever since. 

OKEx listing

A Hong-Kong-based cryptocurrency exchange OKEx has added support for Tezos coins. The users of the platform will be able to trade XTZ against USDT and BTC starting from November 7. Deposits will be made available since November 6.

“Tezos is a highly respected project with a robust community, and we’re happy to be able to add the value of the XTZ network to the OKEx ecosystem, where we strive to deliver a one-stop-shop for professional and retail traders,” Andy Cheung, Head of Operations of OKEx commented in the official press-release.

XTZ/USD, the technical picture

On the daily chart, the initial support is created by the middle line of the daily Bollinger Band at $0.8550. Once it is out of the way, the sell-off is likely to gain traction with the next focus on the recent low of $0.8500, followed by a psychological $0.8000.

On the upside, keep an eye at $0.9000. This barrier needs to be cleared before the coin can proceed to $0.9100 (SMA50 (Simple Moving Average) daily) and October 31 high at $0.9250.

XTZ/USD, daily chart