The last few days illustrated Bitcoin’s dominance on the rest of the crypto-market. Before BTC hiked to breach the $53,000, $54,000, and $55,000-levels, it was consolidating between $50k and $52k. However, while this was a healthy consolidation, many altcoins didn’t think so, with the likes of Tezos and BAT soon correcting on the charts. Dash was an exception, however, with the privacy coin continuing to hike.
It’s been an odd few weeks for Tezos. While XTZ did climb to a new ATH recently on the back of the general market’s bullishness, the cryptocurrency was ranked all the way down at 25th on CoinMarketCap’s charts. In fact, soon after the said ATH was hit, corrections set in, and coupled with Bitcoin being confined within a set trading range, XTZ fell.
Over the last few days, however, Tezos seemed to have recovered, with the cryptocurrency up by 15% in the last three days. With the world’s largest cryptocurrency now valued at over $55,000, XTZ is likely to be bound for more price discovery.
While the Parabolic SAR’s dotted markers were well below the price candles and highlighted the optimism in the market, the Chaikin Money Flow was well above 0.10, a sign of capital inflows gaining strength.
Tezos was in the news recently after it announced the Edo upgrade, three months on from the Delphi upgrade.
Basic Attention Token [BAT]
Basic Attention Token, Brave browser’s native crypto, like most alts, has been surging on the charts lately. In fact, since the start of the year alone, the crypto has hiked from a value of $0.22 to $0.60. Like Tezos, while BAT did hit a local top a week ago, corrections soon followed, before market momentum again pushed the alt higher on the charts.
It should be noted, however, BAT’s press time price level was still a long way away from its ATH of $0.95.
While the Bollinger Bands were widening to highlight incoming price volatility, the Awesome Oscillator projected bullish momentum, despite some flashes of red on the histogram.
Dash, one of the market’s leading privacy coins, has risen exponentially on the price charts over the past week or so. Contrary to the rest of the market, Dash’s performance for most of 2021 has been lukewarm, at best. The last 7 days, however, have been an anomaly of sorts, with the privacy-centric cryptocurrency up by over 92% over the week.
The bullishness in the coin’s market was underlined by the crypto’s technical indicators as while the MACD line was well over the Signal Line on the charts, the Relative Strength Index was holding steady in the overbought zone.