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Tezos struggles as Ethereum Classic, VeChain revisit uptrends

Chayanika Deka

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Source: Pixabay

The crypto-market noted a minor surge recently, one which propelled the collective market cap to $250 billion as Bitcoin‘s dominance continued to remain around the 65% mark. While this latest swing to the upside couldn’t push Bitcoin to breach the $9,000-mark, it did help many of the market’s altcoins register fresh gains.

Tezos [XTZ]

Source: XTZ/USD on TradingView

Recently, Swiss cryptocurrency broker, Bitcoin Suisse, announced the addition of custodial support and staking services for Tezos, leveraging its PwC-audited vault storage.

At press time, the tenth-largest cryptocurrency, XTZ, was being traded at $2.72 after a minor surge of 1.15% over the last 24-hours. Additionally, it held a market cap of $1.93 billion and a 24-hour trading volume of $86.29 million.

Resistance: $3.62

Support: $1.64

MACD: The MACD line was below the signal line, depicting a bearish phase for XTZ token

CMF: The CMF was, however, was just in the bullish territory, depicting a growing inflow of capital in the coin market

Ethereum Classic [ETC]

Source: ETC/USD on TradingView

The Ethereum Classic upgrade called ‘Pheonix’ is less than a week away, with the coin undergoing numerous pullbacks lately. However, there could a reversal in trend soon. The nineteenth-largest cryptocurrency, Ethereum Classic, changed hands at $6.75 after a slightly positive movement of 1.68% over the last 24-hours. At press time, the coin was holding a market cap of $785 million, with a 24-hour trading volume of $1.46 billion.

Resistance: $8.43

Support: $3.44

Parabolic SAR: The dotted markers were below the price candles, indicating a bullish phase for the coin

Awesome Oscillator: The closing green bars also suggested a positive trend for the coin

VeChain [VET]

Source: VET/USD on TradingView

The blockchain platform, VeChain, recently announced developing E-HCert, a blockchain-based Covid-19 records app in collaboration with I-Dante.

Its native token, VET’s price stood at $0.0049 after it shot up by 8.79% over the last 24-hours. At the time of writing, the coin’s market cap was found to be at $274 million, while its 24-hour trading volume was registered at $204 million.

Resistance: $0.0063

Support: $0.0023

Klinger Oscillator: The KO line was above the signal line, thus depicting a bullish phase for the coin

Relative Strength Index: The RSI was above the 50-median line, suggesting buying sentiment among investors of the VET market

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.