Tezos, Monero, Stellar Lumens Price Analysis: 1 September

Wednesday 02 September 2020, 1:50 AM AEST - 1 month ago

Tezos was trading at important retracement levels but lacked momentum in the short-term while Monero suggested a possible bullish signal, and might be able to flip a resistance level to support if the divergence played out. But it did not suggest a strong buying opportunity at the time of writing. Stellar found resistance at a moving average and a further price drop could be in store.

Tezos [XTZ]

PA-5-XTZ.pngSource: XTZ/USD on TradingView

Tezos was trading at the 61.8% retracement level highlighted by the Fibonacci Retracement tool. That signified a 61.8% retracement of the gains made on the surge from $2.59 to ATH at $4.47.

DMI showed a lack of strength of any trend for XTZ, as ADX (yellow) was well below 20 line. Beneath the 0.618 level is also a long term support at $3, which coincides nicely with the 78.6% retracement, and would prove to be a strong level of support.

It is possible that XTZ bounced off the 0.618 level after surging past it a few sessions ago. Yet, XTZ needs some momentum to target some resistance levels above.

In other recent news, Attorney Alexander Lieu released a statement that the litigation against Tezos Foundation has officially come to an end. This lawsuit was filed in December 2017, after Tezos raised $232 million in its 2017 ICO, with the dispute being that this was an unlicensed securities sale.

Monero [XMR]

PA-5-XMR.pngSource: XMR/USDT on TradingView

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