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Tezos (XTZ) Outperforming The Rest of the Market

By Lorenzo - 2019-11-24

Tezos has been in a strong uptrend since the end of October. XTZ has almost doubled in price in less than a month and the bulls are still really strong, especially after all the recent good news. Coinbase has recently announced the listing of Tezos Staking which will be available globally. This has definitely helped the digital asset tremendously and the bulls are currently trying to break the high of the recent bull move at $1.43.
Tezos USD
The bulls just got rejected yesterday from $1.429 but they might have another attempt left before confirming it as a double top. Either way, Tezos is doing far better than most of the other cryptocurrencies which have seen a huge crash in the last week.
On the daily chart, bulls are still in full control even after the rejection and XTZ is trading way above both EMAs. The volume has been great for the bulls and the RSI is trying to cool off right now.
The 4-hour chart is showing support at the 12-period EMA and the bulls are hoping to see a bounce from here and break the high. The RSI is not overextended on this chart which means the bulls could technically just break above the high of $1.43 in one move.
The weekly chart is basically in an uptrend now and the EMAs have crossed bullish. The volume is good enough to confirm the uptrend and the bulls are looking at a break of the current bull flag.
The monthly chart has confirmed a higher low at $0.75 after the bulls were able to change the weekly downtrend. They are now looking to break above $1.7 and confirm a monthly uptrend.