- Tezos price reaches bullish break-out levels
- The coin is in the green with over 8% gains
- Tezos to break the 200-day EMA against BTC
Tezos News Today – the price of Tezos has recorded an 8.04% gain over the past 24 hours of trade against the USD. This bullish action comes as the XTZ price moves to $2.87. The price of Tezos has reached critical break-out levels. This push was received by positive news on the token’s adoption.
Recently, the biggest investment bank in Latin America, Banco BTG Pactual, announced the issuance of real estate tokens on Tezos’ network. Last year, BTG Pactual launched its security token called ReitBZ, on the Ethereum Blockchain and, raised $10 million in ICO. The bank has now announced that it will convert $5 million in ReitBZ to its new real-estate digital currency. Additionally, French firm Digycode led a retail adoption by adding Tezos as one of the crypto trading options on its 10,000-plus merchant locations.
The XTZ Price is Set to Break the 200-day EMA Against BTC
Tezos has been positive since the news on its adoption broke. Against Bitcoin, the price of Tezos is now on the verge breaking-out of the 200-day Exponential Moving Average at the 0.000293 BTC level. In addition to this, the price of Tezos has also moved up above its support on the bullish pattern after it posted a higher low on the hourly chart.
According to the Trader, Immortal Technique, there are several resistance positions at the coin’s current levels, with the XTZ/USD 200-day Moving Average via the 12-hour chart seating at 0.000296 BTC. Recently, the fort-night before the long-awaited Bitcoin halving event has been bearish for the bulk of altcoins. As the Tezos price moves up and approaches the break-out area, another crypto trader called CryptoFibonacci says there is an additional significance of the coin’s current price levels.
What Does the XTZ/USD Daily Chart Say?
Many in the ecosystem are always wonder why the price action stops where they do. Take an example. If the coin manages to break above the 78.6% Fib retracement area, it will be very likely for the XTZ bulls to take control. The XTZ/USD trading pair shows that the support area for the bulls is seating at the 200-day Exponential Moving Average and the 38.2% Fib levels at $2.2-$2.4.
The bulls are targeting price ranges at the previous yearly high. This will be $3.9. XTZ/USD’s CMF and MACD patterns via the daily chart are in the positive zone. RSI via the 4-hour time frame is moving upwards to the bulls and looking for a break-out higher than level 70. The daily chart shows that XTZ’s closing price will be crucial in the confirmation of the above bullish signs.