Price Analysis: Chainlink (LINK) And Tezos (XTZ) Boost Past Key Resistance Levels Despite Bitcoin’s Stagnation

Tezos (XTZ) and Chainlink (LINK) remain unfazed over the past day even as Bitcoin (BTC) struggles to get past the elusive $9,000- dollar mark. The latter has gained impressively since Sunday, boosting past all-time highs on Binance to trade at $4.98 USD, in the early trading hours in the U.S session. XTZ has gained over 4% in the past 24 hours, to test the $3.00 USD resistance mark, as the RSI turned bullish giving a buy signal.

The two cryptocurrencies’ prices are uncorrelated with the rest of the market which currently holds a total of $250 billion dollars, as at time of writing.

Chainlink brazes past ATH, $5 USD on the horizon

In a month that has seen more cryptocurrency firms and exchanges focus on a more decentralized and trustless oracles following bZx exchange hack. Chainlink has been the obvious choice for most of the firms which in turn influenced the demand of LINK on the market. Chillz, a recent partner to world’s biggest football club, FC Barcelona, announced they will be integrating the decentralized oracle on their platform.

We are incredibly excited to announce integration with @Chainlink’s secure decentralised oracle network to provide on-chain real world sports data to enable the auto creation of sports collectables/NFTs for our roster of @socios partners 🚀$CHZ 🤝 $LINKhttps://t.co/vx2WkshZ65

— Chiliz ($CHZ) (@Chiliz) March 4, 2020

On news of Chilliz, the socio token, joining with Link, the price of LINK shot up shortly to $4.98 USD, an all-time high on Binance, leaving bulls with hope of breaching to new ATH through the month. The daily RSI crossed key resistance giving a buy signal.

Furthermore, the moving averages (MA) are closing in on a golden cross, as the 50-day MA shows possibility of crossing above the 200-day MA, a very bullish signal. With the fundamentals looking positive, with yet another partnership announced with EY news desk and ConsenSys to build an oracle in their new “Baseline” platform.

Chainlink is proud to serve on the technical steering committee of Baseline Protocol, an initiative lead by @EYnews & @Consensys in collab w/ Microsoft. We’ll be building enterprise oracle solutions to make Ethereum mainnet compatible for enterprise usage. https://t.co/mGlNQOAUWd

— Chainlink – Official Channel (@chainlink) March 4, 2020

Tezos (XTZ) breaches past $3.00 USD, as bulls reawaken

XTZ/USD is also on a relatively supreme hike, testing the $3.000 USD mark after bouncing off key support levels provided by the lower Bollinger Band (BB) at $2.64 USD. Near term resistance capped by the middle BB at $3.11 USD will be key to push the crypto past the $5.00 USD target, as staking thrives across the crypto industry.

Currently the price of XTZ stands at $2.88 USD, representing a sharp 5.46% increase from Tuesday’s closing. With the daily RSI oscillating in a bullish trajectory at 52, as at publishing time, and the price crossing above the EMA 26, bulls have a reason to be hopeful.

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Price Analysis: Chainlink (LINK) And Tezos (XTZ) Boost Past Key Resistance Levels Despite Bitcoin’s Stagnation

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Tezos (XTZ) and Chainlink (LINK) remain unfazed over the past day even as Bitcoin (BTC) struggles to get past the elusive $9,000- dollar mark. The latter has gained impressively since Sunday, boosting past all-time highs on Binance to trade at $4.98 USD, in the early trading hours in the U.S session. XTZ has gained over 4% in the past 24 hours, to test the $3.00 USD resistance mark, as the RSI turned bullish giving a buy signal.

Lujan Odera

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