Bitcoin’s recent surge over $10,000 has been heaven-sent for many of the market’s altcoins, owing to their high correlations ratios with the world’s largest cryptocurrency. This was particularly true of altcoins such as Brave’s BAT and Dash, while Bitcoin’s movement also provided fresh impetus to Tezos.
Tezos [XTZ]
Source: XTZ/USD on TradingView
Tezos, for the past 10 months or so, has consistently been one of the market’s best-performing altcoins, with XTZ steadily climbing up the charts to displace old mainstays. Ranked 11th at the time of writing, Tezos’ recent performance can be underlined by the fact that it was registering YTD gains of 117% in YTD gains. On the development side, U.S-based exchange Coinbase recently announced Tezos staking services for customers in the U.K, following which, XTZ surged.
On the back of Bitcoin’s latest surge, Tezos climbed too, with XTZ registering a hike of over 2.6%. Thanks to the present movement, XTZ seemed to have broken from its limited movement within a channel, with XTZ touching highs last seen immediately after Bitcoin’s halving earlier in the month.
Further, while the Parabolic SAR’s dotted markers were placed well below the price candles, the MACD line was well above the signal line following a bullish crossover.
Basic Attention Token [BAT]
Source: BAT/USD on TradingView
Brave browser’s native token, BAT, has been pretty inactive and stagnant on both the price and development front. On the latter, while Brave did announce a collaboration of sorts with Binance, the world’s largest crypto-exchange, there have been no updates following the same. In fact, the only other update is an Italian pornographic platform announcing its plans to reward BAT to users who will use its platform.
On the price front, like Tezos, BAT latched on to Bitcoin’s surge and recorded a hike of almost 5% on the charts. However, while the expanded Bollinger Bands suggested increasing market volatility, the Chaikin Money Flow steeply fell, in contrast to the corresponding rise in the token’s price.
Dash [DASH]
Source: DASH/USD on TradingView
Over the past year, privacy-centric Dash has steadily lost its market share to the likes of Monero, with DASH, at the time of writing, ranked at 21st on the charts. Like BAT before it, Dash too reported a hike in its price following Bitcoin breaching $10,000, with DASH recording gains of over 6% on the charts. Like BAT, again, the aforementioned hike pushed the token out its sideways movement pattern.
At the time of writing, Dash priced at $80.92, was noting some momentum in its market, as highlighted by the final green bar on the Awesome Oscillator. Further, the Relative Strength Index had peaked, with the RSI very close to the overbought zone on the charts.
