Tezos Flirts With New ATH At $5, Increasing By 8% Today

Tezos flirts with a new all-time high at $5 after increasing by 8% today and against Bitcoin, it surpassed 38,000 SAT recording its highest level as we are about to learn more in the Tezos XTZ news.

Tezos flirts with a new all-time high by increasing a solid 35% over the week as the coin pushed higher. Then, XTZ reached a $4.26 resistance 3-days ago and it has then broken above there with the 6.8% price hike earlier today. The BTC price plunged from $11K which led Tezos to drop to a new low of $3.60 earlier today. However, along with the market momentum, XTZ gained more than 20% from today’s low and is now trading just below all-time high levels. Looking forward, the first level of resistance is expected at $4.45 being the new all-time high beyond this, the resistance level lies at $4.60 and $4.80 along with the psychological level of $5.00.

XTZ/BTC. Source TradingView

On the first side, the first level of support is located at $4.00 and this is followed by adding more support at $3.58 and the $3.32 Fib retracement. The RSI is well in the mid-line to indicate a major bullish momentum for the coin as the stochastic RSI is still in overbought territory and is primed for a huge bearish crossover signal which could send the market even lower.

Tezos surged higher this week against Bitcoin by almost 50% to reach the current 38,000 SAT resistance provided with the 1.618 Fib Extension level which is the 2020 high seen in April. Looking ahead, if the bulls manage to push beyond the 38,000 SAT resistance is located at 38,800 SAT following the resistances at 40,000 SAT and 43,700 SAT. on the other side, the first level of support is set at 36,000 SAT followed by support of 34,100 SAT (Fib retracement of .236) and 30,000 SAT. The RSI reached overbought territory conditions but there’s still room to push higher as the stochastic RSI is already in overbought territory, ready for a bearish crossover signal.

XTZUSD. Source TradingView

Bitcoin was not able to conquer the $12,000 and got rejected although most top 10 altcoins are retracing slightly and the rest of the market remained in the green including another all-time high from the top 20 coins. Most of the top 10 coins pulled back including Ethereum, Bitcoin Cash, Bitcoin Sv, Chainlink, and Binance Coin while Ripple is the only coin in the green with 2.5% to above $0.30.

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