The crypto-market has been going through some tough times lately. While many expected Bitcoin, the worlds largest cryptocurrency, to finally sustain a breach of $12k and climb on the charts, the opposite happened. BTC fell dramatically on the charts, and the rest of the altcoin market followed suit. The likes of Zcash, Binance Coin, and Tezos were among those to follow Bitcoins lead. However, at the time of writing, each of these alts was registering distinctly different market movements.
Tezos, over the past 6-8 months, has for long been one of the markets best-performing cryptocurrencies. At the time of writing, however, this wasnt the case as XTZ had slipped down to the 16th position on CoinMarketCaps charts. Despite noting YTD gains of over 82%, XTZs position on the charts has been usurped by the likes of USD Coin, Crypto.com Coin, and Polkadot.
Tezos fell by almost 27% on the back of Bitcoins price drop earlier this month. Since then, XTZ has been trading sideways, with minimal direction observed in either direction. In fact, at press time, XTZ was trading closer to its support level than its local top on the charts.
While the Parabolic SARs dotted markers underlined the markets bearish nature, the Relative Strength Index was hovering close to the oversold zone on the charts.
Tezos was in the news recently after a long legal battle was settled finally before a U.S Federal Court judge.
Binance Coin [BNB]
The crypto native to one o ...