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Tezos continues to surge following Kraken listing: XTZ Technical Analysis
The cryptocurrency market has been relatively quiet since the start of the week, with the major coins seeing minor fluctuations and the overall market cap hovering just under $210 billion. Tezos [XTZ] has been riding a bullish wave since October 22, courtesy of Kraken's recent announcement that XTZ would be listed on its exchange. The announcement was made last week and since then, the XTZ markets have been abuzz. Kraken, which has an adjusted exchange volume of over $46 million, has rolled out five trading pairs for Tezos: XTZ/USD, XTZ/EUR, XTZ/CAD, XTZ/XBT, XTZ/ETH. Tezos, which currently ranks as 18th most valuable coin in the market, has seen over $50 million added to its market cap in a matter of 18 hours. Among the top 20 coins, Tezos is the biggest percentage gainer, rising well over 6% against the U.S. dollar.XTZ/USD
The key support level for XTZ was noted at $1.29, which the coin last breached on October 15. The key resistance level for the coin can be traced at $1.39, which the coin is comfortably hovering over. The MACD indicates that Tezos is in trading in the bullish zone, while the 100 EMA line points to an uptrend. Traders are increasingly purchasing XTZ, as shown by the hourly RSI indicator, which stands at 72.24 -this suggest that the token is currently overbought. The significant trading range exhibited by the coin is $1.435-$1.449. At press time, the digital asset had climbed 6.3% against the U.S. dollar and is currently valued at $1.448.XTZ/BTC
The virtual currency has gained 6.3% against Bitcoin [BTC] and currently, one XTZ is equivalent to around 0.000219 BTC.Market Capitalization
The coin broke away from the $800 million mark on October 21 and since then, it continued its bullish swing. As of 0500 UTC on Monday, the market capitalization of XTZ stood at $807.8 million and in less than 20 hours, it increased by 7.1% to reach close to $865 million. At press time, Tezos’ market cap stood at $862.6 million.Tezos [XTZ] Price Prediction 2018, 2020
- Wallet Investor has predicted that Tezos is likely to hit as high as $2.68 by December. In January 2020, the crypto is expected to be valued at $0.000001.
- Crypto Info Base has asserted that in December 2019 XTZ will likely trade at $3 and in early 2019, it will be trading within the range of $3-$5.
- Trading Beasts has predicted that by December, Tezos will be valued within a range of $1.33-$1.95. By the end of the year, the price will likely touch $1.56. XTZ is expected to trade within $1.50-$2.20 in January 2020.
Tezos [XTZ] Latest Updates
- Kraken, the Canada-based cryptocurrency exchange, had announced last week that it would begin listing the crypto on its services and offered five distinct trading pairs for the same.
- Last month, Tezos Mainnet was launched after a smooth completion of the betanet period. On reaching the new status, all balance transactions that were previously on the betanet would automatically be transferred to the mainnet.
- Tezos had hired PricewaterhouseCoopers, a Big Four accounting and audit firm, to conduct an external audit so as to regain the trust of their investors.
