XTZ, the native cryptocurrency of the Tezos blockchain platform, recently defeated a long-standing Head & Shoulder pattern.
If successful, the bearish technical indicator could have crashed XTZ to as low as 523 sats.
Its failure now puts the crypto en route to record highs.
XTZ is trading almost 28 percent lower from its all-time high at 4,073 sats, but the cryptocurrency has enough fuel to retest the top.
The upside sentiment for the Tezos blockchain’s native asset takes cues from its recent response to a bearish technical indicator. Since it started trading in 2019, the XTZ/BTC daily chart was gradually forming a Head & Shoulder pattern, hereto H&S.
The classic indicator appears after an asset form three price highs, with the middle peak highest than the other two. Meanwhile, these peaks stand on a price floor called the neckline. Together, they appear like two shoulders with one head in the middle, which explains the term H&S.
A Winning Cryptocurrency
Traders perceive H&S as a bullish-to-bearish trend reversal indicator. Despite its standalone limitations, the pattern is prevalent in predicting an asset’s potential negative breakouts and their downside targets. XTZ was making a similar indicator on its bitcoin-focused chart, as shown below.
H&S formation on the Tezos token’s chart | Source: TradingView.com, Binance
The circled peaks represent XTZ’s head and shoulders, while the red ascending trendline is its neckline. After confirming the Right Shoulder peak on April 25, 2020, the XTZ/BTC rate corrected lower to retest the redded floor.
Ideally, the pair could have broken below it to establish a downward breakout move to as low as 523 sats – the price target of the H&S pattern. But instead, it established the neckline as its support, invalidating the technical indicator entirely.
The price jumped by as much as 21 percent after testing the red line.
The overall move verified the redded Ascending Trendline as a crucial support level for XTZ. A favorable buying sentiment near the line kept the cryptocurrency from dwelling into risky bearish territories. As a result, XTZ remains one of the best performing crypto tokens in 2020, beating even its top rival, Bitcoin.
What’s Next
Supported by optimistic fundamentals, XTZ would most likely retest the red trendline for a pullback towards its 23.6% Fibonacci level – at 3,085 sats. Meanwhile, a break above the said resistance would set its upside target towards 3,769-4,073 sats range.
Bitcoin’s corrective sentiments could also support XTZ’s uptrend. As the top crypto remains capped by its long-term Descending Trendline, it would move profit-seekers to the altcoin market, benefitting rivals like Tezos and Ethereum. origin »
In the past 2 days, Bitcoin lost about 21% of its value. Altcoins followed the leading cryptocurrency and dropped 20 to 30%. This resulted in wiping out $50 billion from the total market cap. However, Tezos is one cryptocurrency that is not following this trend. On Nov. 22, XTZ registered a loss of 14% but […]
Following the listing of Tezos (XTZ) token on OKEx earlier this month, the world’s leading digital asset exchange and trading platform has now announced the launch of Tezos Baking (staking) Service on OKEx Pool (Get to Know OKEx Pool).
Coinbase, a leading U. S. -based crypto exchange now lets Tezos (XTZ) holders stake their tokens right from their Coinbase wallet and earn rewards. The exchange has also introduced the Coinbase Earn Tezos campaign, which enables anyone in a Coinbase-supported jurisdiction to earn up to $6 worth of XTZ by performing simple tasks, according to a blogRead MoreRead More.
Tezos now has a bullish short-term and medium-term trading bias The four-hour time frame shows that large inverted head and shoulders pattern has formed The daily time frame highlights and an even larger bullish pattern Tezos has made major strides this week, with the cryptocurrency rallying to its highest trading level mid-August and gaining well-over […]
The post Tezos Price Analysis XTZ / USD: Breaking Resistances appeared first on Crypto Briefing.
Wednesday saw Coinbase announce the introduction of staking rewards for eligible US customers who hold Tezos (XTZ) on the platform. This comes as a new means for users to earn cryptocurrency, but also as a lucrative revenue stream for the company.
In a press release issued on November 4, 2019, OKEx – the world’s largest futures cryptocurrency exchange – announced that it will list open-source blockchain platform Tezos’s digital token – XTZ. Tezos Marks its Debut on OKEx Tezos, an open-source distributed ledger technology (DLT) project with a global community of validators, researchers, and developers hasRead MoreRead More.
AlphaPoint, a blockchain company focused on enabling institutions to launch and operate digital asset exchanges, today announced that it now supports XTZ, the native asset of the Tezos blockchain.
The world’s most popular cryptocurrency exchange, Binance, has listed smart contract-focused altcoin Tezos (XTZ) to its flagship website, causing the price to spike as much as 5% in the first couple hours after a listing announcement was made.
Crypto. com has added XTZ, the native currency of Tezos, to its platform today and is looking into adding baking rewards for its users. XTZ has enjoyed a streak of new listings this month, with Crypto.
Altseason has been indefinitely postponed, but not everyone’s watching the clock. With threefold price growth for the year, Tezos (XTZ) is one of the few altcoins to keep pace with bitcoin and leave better-funded rivals like EOS in the dust.
Tezos (XTZ) has been rising this past week from about $1 to $1.40 to then jump once Coinbase announced its listing. The cryptocurrency saw a fairly big candle on August...
The post Tezos Jumps 40% on Coinbase Listing appeared first on Trustnodes.
Coinspeaker Coinbase Opens Tezos Trading to Millions of Retail InvestorsMajor cryptocurrency exchange Coinbase has announced that it is now supporting Tezos (XTZ) trading on its site, as well as on Android and iOS versions of the Coinbase app.
Coinbase added Tezos to its retail platform and mobile apps. The move will provide market access to the cryptocurrency for millions of retail investors. Tezos is a delegated proof of stake blockchain that governs itself by establishing a true digital commonwealth.
Today, the Tezos token, XTZ, has enjoyed another listing on a major trading/investment platform. eToro, which currently boasts more than 11 million registered users, has now made XTZ available to buy, sell, and trade.
Tezos is having a productive summer so far. Only days ago, Coinbase Pro announced that they were adding support for the cryptocurrency, leading to a boost of over 20% within a few hours. Now, they are teaming up with Huobi, according to a new tweet.
Yesterday Huobi Wallet announced on Twitter that it would soon become a Tezos baker and support XTZ. Huobi Wallet also praised Tezos for “leading the way in POS & governance,” further stating that it was a “no brainer to add XTZ.
Coinbase Pro has consistently worked to make sure that consumers have a wide variety of options for trading, adding new tokens to their platform relatively frequently. According to a new blog post from Coinbase, the platform has decided to add XTZ, the cryptocurrency asset from Tezos.
With bitcoin dominance at close to 65%, altcoin season and the associated fireworks have not yet emerged. However, strong cryptocurrency markets suggest that big updates garner big reactions. Today’s announcement from Coinbase regarding Tezos is the most recent case.
Coinbase Pro adds support for Tezos (XTZ) » CryptoNinjas
Coinbase Pro, the advanced cryptocurrency exchange platform from Coinbase, today confirmed listing for XTZ, the native token of open source blockchain protocol Tezos.
Many traditional financial firms are a bit reluctant to join the cryptocurrency bandwagon. Nevertheless, there has been a recent change of heart as more and more institutional investors are changing their tune about cryptocurrency.
Roman Schnider, the individual behind the blockchain and cryptocurrency assurance division of PwC in Switzerland is now joining Tezos as the chief financial officer (CFO). The information was released by the company in a recent announcement.
Cosmos Reaches The Top 15 Cryptocurrency With Binance Listing Cosmos (ATOM) has reached the top 15 after being listed on the Binance cryptocurrency exchange. The virtual currency registered a price increase of 7.
Per time of writing, the global market capitalization of all cryptocurrency coins has reached over the major $180. 0 bln [counting right now $180. 73 bln] as the positive sentiment returned following bitcoin‘s strong return above $5,000.
The cryptocurrency market saw a rise in the price of most major cryptocurrencies, including Tezos [XTZ], Bitcoin Cash [BCH] and Litecoin [LTC], on April 15. The price of the largest cryptocurrency, Bitcoin [BTC] also remained above $5k and noted minimal growth.
Staking tokens is a well-known way for holders to earn a passive income. But as the number of Proof-of-Stake (PoS) coins increase, it’s becoming harder to work out which one would earn holders the highest yield.
The 21st largest cryptocurrency by market capitalization Tezos [XTZ] is battling among many coins to overcome the major $1. 000 for the past few days as it is riding together with the leading crypto BITCOIN BTC.
In what was the most successful week in 2019 for the cryptocurrency market, Tezos [XTZ] was further buoyed by a massive price pump at the end of the week. The 19th largest coin in the market soared to become the highest gainer in the top-20 list, which include the likes of a bullish Bitcoin [BTC], […]
The post Tezos [XTZ] closes week as highest gainer in top-20 coins; pumps by 10% appeared first on AMBCrypto.
The official cryptocurrency wallet app of choice for Binance has added support for Tezos (XTZ). Additionally, the app is working on introducing a staking feature for Proof-of-Stake-based cryptocurrencies.
Brian Armstrong, CEO and Co-founder of Coinbase, spoke about the new staking service provided by the platform for institutional investors, in an interview with Fortune’s Jeff Roberts. Towards the end of March 2019, Coinbase announced that they would be launching offline staking support for Proof-of-Stake cryptocurrencies, starting with Tezos [XTZ], the nineteenth largest cryptocurrency by […]
The post Coinbase CEO says crypto-winter only for coin prices; claims it’s summer for innovation appeared first on AMBCrypto.
March has been a positive month for the cryptocurrency market on the whole. The 31-day period saw the cryptocurrencies’ combined market capitalization dropping to as low as $125. 09 billion, and rising to as high as $146.
Tezos (XTZ) has registered a price increase of more than 60% in the last days after being supported by Coinbase Custody as the first cryptocurrency investors would be able to stake in their platform.
The week is ending on a hugely positive note for the Tezos cryptocurrency. Tezos Races Ahead of Wider Crypto Market The blockchain project’s native asset XTZ today established a new weekly high towards $1.
Previously, institutional investors did not stake their cryptocurrency or participate in governance because of the need to use crypto-custodians. Coinbase Custody is changing that with support for Tezos staking and MakerDAO governance for its institutional clients.
Tezos, the nineteenth largest cryptocurrency by market cap, pumped by approximately 22% after Coinbase’s arm, Coinbase Custody, announced the option to stake for its institutional clients. The price of Tezos was $0.
Coinbase, one of the leading cryptocurrency exchanges around the globe, is in the spotlight yet again. Sam McIngvale, the Product Lead at Coinbase Custody, announced that they would be adding institutional support for Tezos [XTZ], the nineteenth-largest cryptocurrency by market cap.
Long-Term Outlook A look at the Weekly chart for XTZ shows that the price made a temporary bottom near $0. 4, close to where price opened in July 2018. Since then, it initiated an upward move which took it above the 10 and 21-period moving averages, which are very close to making a bullish cross.
During the last few weeks, Altcoins have been performing very positively in the cryptocurrency market. There were several digital assets that performed better than Bitcoin (BTC) and that are helping the whole crypto market to leave the bear trend.
After doubling its cryptocurrency lineup this year, it seems popular exchange service Coinbase has no intention of slowing down its expansion into altcoin trading. The company has revealed it’s exploring a large list of cryptocurrencies that could soon be added to its flagship desktop and mobile app, Coinbase.
CryptoNinjas
Bitcoin and cryptocurrency exchange RightBTC announced this week it has reached a strategic cooperation agreement with ViewNodes to deliver one-stop delegation service for their Tezos holders.
The Tezos Foundation announced on November 12 a team up with B9lab, a blockchain education, and training program provider, in an effort to bring more developers closer to the Tezos ecosystem. The Tezos Training Courses and the Contest for Top Talents Tezos (XTZ) aims to utilize B9lab’s know-how, as the latter has been offering training programs and […]
Tezos Foundation Announces Strategic Partnership With B9lab for a Blockchain Training Program was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Tezos (XTZ) surged 15% over the past 24 hours amidst a general cryptocurrency market recovery and its recent listing on Kraken. The cryptocurrency has been one of worst affected by the market crash, falling over 90% since its one year high it reached in December.
CryptoNinjas
Bitcoin and cryptocurrency exchange Kraken today announced support for Tezos (XTZ). Trading starts Tuesday, October 16th. Margin trading will not be available at launch for XTZ but may be enabled in the future.
The Tezos mainnet was one of the most highly anticipated launches of the year, and the blockchain community kept waiting anxiously for it to go live. Ending the wait, Tezos Foundation announced on Monday, Sept, 17, that the mainnet is now live.
Evolve Markets has announced the addition of Tezos (XTZ) trading to its platform — which currently allows users to trade Bitcoin, emerging altcoins, and other currencies on the Metatrader 5 platform.
Tezos Foundation (CRYPTO: XTZ) launched on Monday its blockchain protocol which is now fully operational and managed by the Tezos community. The XTZ token rose to $1. 68 early Monday gaining 46% from a one-week low of $1.
During one of the most successful and largest ICOs ever held – Tezos Foundation raised over $232 mil bringing a new cryptocurrency in the market with a initial mode of the blockchain launched afterwards.
Made in the USA by former Morgan Stanley analyst Arthur Breitman, Tezos considers itself the last cryptocurrency you’ll ever need. Its ICO raised 66,000 BTC and 361,000 ETH in July 2017 on the back of this promise.
Tezos’ native token XTZ is steadily trending upwards against Bitcoin since October 2019. A medium-term ascending trendline is offering strong support to the said uptrend. Favorable fundamentals and technicals could lead XTZ to establish an all-time high in bitcoin-enabled markets.
