The cryptocurrency is buying and selling within the pink zone once more, with most cryptocurrencies recording losses in the mean time.
The cryptocurrency market has had a poor begin to the day. The market misplaced greater than 2% of its worth earlier right now however is slowly recovering and is simply down by 1.25% on the time of this report
The overall cryptocurrency market cap stands above $950 billion. Bitcoin, the world’s main cryptocurrency, is down by 1.3% within the final 24 hours. BTC dropped under the $21k psychological degree a number of hours in the past however is now buying and selling above $21,100.
Ether has maintained its worth above $1,200 regardless of shedding 0.7% of its worth within the final 24 hours.
XTZ, the native token of the Tezos blockchain, is among the greatest performers amongst the highest 40 cryptocurrencies by market cap. XTZ is up by greater than 9% within the final 24 hours and at the moment trades at $1.65 per coin.
The catalyst behind XTZ’s constructive efficiency might be the launch of the Open Net Discussion board 2022 Hackathon. The hackathon, organised by HackerEarth, is powered by Tezos.
📣 @HackerEarth‘s Open Net Discussion board 2022 #Hackathon is right here, powered by @Tezos!
Be a part of creatives w/ technical abilities to develop modern #Web3 options and construct video games on #Tezos the place you may journey by means of an ecosystem filled with distinctive #DApps.
Registration closes July 18! ⤵️
— Tezos (@tezos) June 27, 2022
Key ranges to observe
The XTZ/USD 4-hour chart is at the moment bullish as Tezos is performing positively. The technical indicators present that XTZ is outperforming the opposite main cryptocurrencies.
The MACD line is inside the constructive territory, indicating bullish momentum. The 14-day relative power index of 66 reveals that XTZ may quickly enter the overbought area.
If the rally continues, XTZ may surge previous the $1.73 resistance degree quickly. Nevertheless, it could want the help of the broader market to commerce above $1.9 for the primary time in two weeks.
XTZ may drop under the $1.5 help degree if the bears regain management of the market within the brief time period. Nevertheless, XTZ ought to comfortably defend its place above the $1.34 help degree over the approaching hours.
