Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
XTZ rose to its highest point in nearly three weeks on Tuesday, as the token climbed for a second straight session. The move came as FLOW was also trading higher, as prices of the coin moved closer to $2. Overall, crypto markets were 0.90% lower as of writing.
XTZ rose to a multi-week high on Tuesday, leading prices to a collision with a long-term resistance level in the process.
Tuesday saw tezos climb to an intraday peak of $1.68, which is nearly 9% higher than yesterday’s low at $1.49.
As a result of this rally, XTZ/USD collided with its long-term resistance level at $1.65 for the first time since June 12.
Following recent lows, prices of the token have steadily increased, and as of writing are 11.48% higher than at the same point last week.
In addition to prices, another resistance has been hit, as the 14-day RSI hit a ceiling of its own at the 50.20 point.
Tezos bulls appear to be attempting to enter the $2 region, however this will likely not occur until we see a breakout of the RSI resistance.
FLOW was also trading near a multi-week high on Tuesday, as prices rose by as much as 8% during today’s session.
Whilst XTZ bulls may need to wait a while longer before re-entering the $2 region, FLOW was close to this point following today’s gains.
Following Monday’s low of $1.65, FLOW/USD surged to an intraday peak of $1.81 earlier in the day.
This is the highest point the token has traded since June 13, and comes as prices also hit a resistance point of $1.80.
Bulls opted to secure profits rather than hold onto their positions, which resulted in prices falling lower as the session progressed.
As of writing, FLOW is currently trading at $1.77, which is marginally below earlier highs.
Do you expect FLOW to reach $2 as early as tomorrow? Let us know your thoughts in the comments.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.