Search ForexCrunch
  • Tezos gets ready to wrestle its way above the rising wedge pattern resistance and the barrier at $2.30.
  • Tezos perpetual swap contract to start trading on Binance Futures as CEX.IO adds XTZ/USD trading support.

Tezos price smashed through the barrier at $2.00 amid the widespread bullish wave in the market towards the end of the American session on Wednesday. The last 24 hours have seen XTZ grow by over 13%. The digital asset, has made it into the top ten bracket with a market cap of $1.5 billion. It also features a 24-hour trading volume of $115 million.

Tezos futures trading debuts on Binance Futures

The largest cryptocurrency exchange by adjusted trading volume, Binance added support for XTZ/USDT perpetual contact on its dedicated futures platform on February 5. Buying and selling of the contract is expected to commence on February 6 at 8:00 am. A 50x maximum leverage has been provided to users to either short or long Tezos.

Tezos listed on CEX.IO exchange

CEX.IO exchange added support for XTZ on Wednesday 5, February 2020. The available trading pair is XTZ/USD. Deposits have already been enabled, however, withdrawals will begin on February 7 in addition to a second trading pair support XTZ/EUR. Another trading pair XTZ/GBP will go live on February 10. Users can also buy Tezos using Visa/Mastercard as they do with other cryptos.

Tezos price technical picture

Tezos has the potential to hit new highs in 2020 in the near term, especially if the wedge pattern resistance is overwhelmed. The price is teetering at $2.24 and looking forward to crossing above $2.30. The full stochastic oscillator emergence into the overbought region suggests that the bulls are gaining ground. Besides, the 50 SMA is also expanding the gap above the 100 SMA on the 1-hour chart. In other words, the trend is currently tipping to the bulls’side and could continue in the coming sessions on Thursday.

XTZ/USD 1-hour chart