Tezos, Ethereum Classic, EOS Price Analysis: 28 February
After the market retraced in the last 24 hours, Tezos fell below its 20-50-200 SMA while Ethereum classic fell below its EMA ribbons. Further, EOS struggled to topple its 20 EMA but kept the bullish revival hopes alive after displaying a strong CMF.
Tezos (XTZ)
Source: TradingView, XTZ/USDT
The previous bull rally from its six-month low saw exceptional gains that found a ceiling at the $4.5-mark. Then, XTZ saw an over 40% pullback as it fell in a descending broadening wedge (white) and matched its January lows.
From its $2.6, 26-week support, the bulls propelled a 34.7% rally above the 20-50 SMA that was shunned by the $3.4-resistance. However, since the last day, XTZ saw a strong pullback towards the $3-mark. But if the 20 SMA (red) sustains above the 50 SMA (grey), it would reveal a bullish edge in the coming days.
At press time, the alt traded below its 20-50-200 SMA at $3.089. Over the last day, the RSI fell below the midline and affirmed a bearish edge. Also, the Volume Oscillator was declined below its equilibrium during the breakout phase, hinting at a weak bull move.
Ethereum Classic (ETC)
Source: TradingView, ETC/USDT
From its January lows, ETC registered a staggering 76.2% ROI and poked at the $37-resistance. Post which, it entered into the retracement phase. As a result, After an over 35% decline towards the $27-mark, the alt saw a double bottom on its 4-hour chart.
The breakout above the $27-level pushed ETC above its EMA ribbons but struggled to overturn the $29-resistance. Over the past day, the alt rejected higher prices while falling below the ribbons. But the bulls upheld the immediate support.
At press time, ETC traded at $27.55. Over the past 24-hours, the RSI reversed from the overbought region and fell below
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