DOGE rose on Saturday, following yesterday’s tweets from Elon Musk confirming that Spacex could soon accept the memecoin as a payment option for merch. Tezos rose nearly 5% to begin the weekend.
Dogecoin (DOGE).
DOGE emerged as one of the top crypto market movers on Saturday. This was because traders were continuing to purchase the memecoin after Elon Musk’s recent tweet.
We covered this yesterday. Musk saidDOGE is soon available for purchase of Spacex merch.
Doge/USD reached an intraday high of $0.08538 via the news. This pushed prices to an eleven-day high.
This caused the memcoin to drift slightly below its resistance at $0.08500. However, traders moved in to take profits and some of those earlier gains were lost.
DOGE trades at $0.08124 as of this writing, close to the support level $0.08080.
Despite the increase in price strength, the RSI is still above its resistance of 35.5.
Tezos (XTZ)
After two sessions of consecutive declines, XTZ recovered on Saturday as the prices moved toward a temporary resistance level.
XTZ went from trading above $2.25 on Thursday, to falling to $1.75 during yesterday’s session. But bulls returned and the prices are consolidating.
Saturday’s intraday peak at $1.94 by XTZ/USD was marginally lower than the $1.95 interim resistance level.
Although bulls may be looking to recover the $2.00 level of their previous record, they have to face some challenges.
The 44.80 ceiling for the 14-day RSI is one of the most important. It has only been broken once within the past two months.
Should this breakout, there will be an infusion of bulls that push prices to $2.25. If it fails, then we might see a closer move to $1.65 support.
Tezos may break the $10.00 barrier this weekend. We’d love to hear your comments.
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