The post Tezos crypto surges 40%, breaks 8-month resistance with THIS move appeared on BitcoinEthereumNews.com.

XTZ is the biggest gainer in the last 24 hours. It is facing a decline but maintains the $1 price level. In recent days, Tezos crypto [XTZ] has joined the ranks of digital assets experiencing significant price surges. Over the past 24 hours, Tezos has spiked by more than 40%, marking its first substantial gain in months and breaking through a key price level. Tezos crypto surges past eight-month resistance Tezos crypto wastrading at $1.14 at press time, slightly retreating from an intraday high of $1.24. This price level represents an eight-month high for XTZ. The rally was triggered by a breakout above the 200-day Simple Moving Average (SMA) at $0.75, signaling renewed bullish momentum. The RSI (Relative Strength Index) stands at 77.15, signaling overbought conditions that may prompt short-term profit-taking. Despite this, the MACD (Moving Average Convergence Divergence) histogram remains bullish, suggesting sustained upward momentum in the medium term. Source: TradingView Using Fibonacci retracement levels, resistance is evident around the 4.236 Fib level at $1.15, which Tezos has struggled to break convincingly. Support appears near the 2.618 Fib level at $0.93, providing a potential cushion for consolidation. The Parabolic SAR also confirms the bullish trend, with indicators below the price action. The sharp increase in volume underscores growing investor interest, but maintaining this trend will depend on clearing resistance barriers. Trading volume spikes alongside price rally Tezos crypto’s trading volume has mirrored its price surge, breaking notable records. Data from Santiment reveals that XTZ’s volume rose from approximately $60 million to over $500 million by the close of trading on November 18. As of this writing, the trading volume has exceeded $870 million, marking the highest level since 2021. Source: Santiment This substantial increase in volume signals heightened market activity and growing interest, reinforcing the bullish sentiment surrounding Tezos crypto.…

---

Filed under: News - @ November 19, 2024 8:23 pm