Sat. Aug 13th, 2022

XTZ rose to its highest point in nearly three weeks on Tuesday, as the token climbed for a second straight session. The move came as FLOW was also trading higher, as prices of the coin moved closer to $2. Overall, crypto markets were 0.90% lower as of writing.

Tezos (XTZ)

XTZ rose to a multi-week high on Tuesday, leading prices to a collision with a long-term resistance level in the process.

Tuesday saw tezos climb to an intraday peak of $1.68, which is nearly 9% higher than yesterday’s low at $1.49.

As a result of this rally, XTZ/USD collided with its long-term resistance level at $1.65 for the first time since June 12.

Following recent lows, prices of the token have steadily increased, and as of writing are 11.48% higher than at the same point last week.

In addition to prices, another resistance has been hit, as the 14-day RSI hit a ceiling of its own at the 50.20 point.

Tezos bulls appear to be attempting to enter the $2 region, however this will likely not occur until we see a breakout of the RSI resistance.

FLOW

FLOW was also trading near a multi-week high on Tuesday, as prices rose by as much as 8% during today’s session.

Whilst XTZ bulls may need to wait a while longer before re-entering the $2 region, FLOW was close to this point following today’s gains.

Following Monday’s low of $1.65, FLOW/USD surged to an intraday peak of $1.81 earlier in the day.

This is the highest point the token has traded since June 13, and comes as prices also hit a resistance point of $1.80.

Bulls opted to secure profits rather than hold onto their positions, which resulted in prices falling lower as the session progressed.

As of writing, FLOW is currently trading at $1.77, which is marginally below earlier highs.

Do you expect FLOW to reach $2 as early as tomorrow? Let us know your thoughts in the comments.