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Dogecoin, Tezos, EOS Price Analysis: 16 February

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Source: Pixabay


Dogecoin bulls ensured the Point of Control support near the $0.143-mark and endeavored to snap the $0.15-resistance. But both Dogecoin and EOS displayed a weak directional trend.

Tezos saw an up-channel breakdown but picked itself up from the $3.7-mark. If the buyers continued their pressure, it eyed to retest the $4.4-zone. 

Dogecoin (DOGE)

Source: TradingView, DOGE/USD

Since hitting its nine-month low on 22 January, DOGE reversed its previous losses by registering a 43.5% ROI and testing the $0.167-level.

As the sellers stepped in at the $0.167-resistance, DOGE saw an up-channel breakdown in the last four days. This pullback found support at its two-month Point of control (red) near $0.143. The immediate hurdle for the bulls was still at the $0.15-mark.

At press time, DOGE was trading at $0.1496. After heading into the oversold region, the RSI revived in an up-channel (yellow). As a result, it closed above the half-line but struggled to overturn the 54-mark. Any close below the lower trendline would propel a retest near the 42-level. However, the ADX marked lower peaks and troughs, reaffirming a weak directional trend.

Tezos (XTZ)

Source: TradingView, XTZ/USDT

As XTZ gravitated towards its six-month low on 24 January, Bulls took over while the alt bounced back to reclaim the $3.7-support.

The alt witnessed an 81.2% ROI while forming an ascending channel (yellow) to test the $4.5-mark on 10 February. Since then, the up-channel breakdown found strong support at the $3.7-level. Now, the bulls attempted to cross the $4.1-level. Any close above this level would cause a test near the $4.4-mark.  

At press time, XTZ traded at $4.11. Over the last two days, The RSI saw a 24-point revival from its oversold position and managed to close above the half-line. Any close above the 56-point would brighten the chances of a $4.4-mark retest. Also, the AO navigated above its equilibrium, depicting an increasing buying pressure.

EOS

Source: TradingView, EOS/USDT

While being on a long-term downtrend, EOS witnessed multiple sell-offs and lost vital supports (now resistance). The alt marked a 42.03% decline (from 27 December) and touched its 22-month low on 24 January.

Since then, the alt has seen an up-channel (green) 39.2% until reversing from the $2.6-level. Over the last two days, it saw a falling wedge breakout but failed to topple the $2.5-resistance.

At press time, EOS was trading above its 20-200 SMA at $2.487. The RSI saw impressive gains as it poked the 61-mark on 16 February. From here on, The bulls need to defend the half-line support to prevent a further retest near the 20 SMA. Although the DMI preferred the buyers, the ADX (directional trend) was slightly weak.

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With a background in financial analysis and reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.

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