Why Are Tezos, Lisk, Binance Coin Beating Bitcoin so far in 2020?

Over the weekend Bitcoin (BTC) bulls showed impressive strength as the price punched through $10,000 for the first time in 2020. Interestingly, not only Bitcoin forks have been performing well recently, in fact, many altcoins are actually outperforming Bitcoin. The most recent notable performers are Tezos (XTZ), Lisk (LSK) and Binance Coin (BNB).

Since the start of 2020 Tezos has surged 118% and Binance Coin 120%. Meanwhile, Lisk has kicked its rally into high gear, surging 450% this year. These movements call for analysis.

Crypto market daily performance. Source: Coin360XTZ/BTC fights against heavy resistance

Tezos has shown tremendous strength through the first weeks of 2020 and is likely to continue over the coming weeks.

XTZ BTC 1-week chart

The XTZ/BTC weekly chart shows a clear double bottom structure at 0.000084 satoshis, which led to the first movements to 0.0001850 satoshis. After that, a confirmation of the breakout led to the support/resistance flip at 0.0001488 satoshis.

This support/resistance flip made the basis for the recent surge, which is currently hovering around a significant resistance at 0.0002600-0.0002700 satoshis.

A significant indicator of strength is the volume indicator, meaning, when trading volume starts to rise along with the price action, this indicates strength and buying pressure. More examples can be found recently with movements on Dash (DASH), Icon (ICX), and Lisk.

The current test for Tezos is whether it can flip the 0.00257 satoshis level for support. If thats possible, continuation towards 0.00035 satoshis and even 0.0005-0.00051 satoshis is on the table.

XTZ/USD pair leads with a massive break above $1.75 XTZ USD 1-week chart. Source: Cointrader.pro

The XTZ/USD chart currently shows a clear breakout above the $1.75 resistance after $1.20 flipped as support.

A retest of the $1.75 level would provide what might be a great opportunity to buy the altcoin but its highly debatable whether the price would make such a deep retracement. If Tezos is likely to hold the $2.50 level for support, a move towards $4.00 is warranted.

Binance Coin rallies on futures launch

Binance Coin has been showing strength recently as well, allegedly due to the launch of futures on the BNB/USDT pair on the Bi ...

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