Tezos has climbed above the 0.5 Fibonacci level and is taking strength from bullish metrics and is targeting Fibonacci levels of 0.618 and 1. Verge is expected to move within an ascending channel. The lack of volume for a breakout in either direction is striking.
Tezos (XTZ) price analysis
On Tezos’s hourly chart, the high and low lows of $ 4.14 and $ 3.14 respectively can be used to point to key Fibonacci levels. Currently, the crypto price has moved above the 0.5 level as the indicators give bullish signals. However, it will be monitored whether the above-mentioned level will continue in case of a decline in the overall market.
As the Awesome Oscillator broke above the half-line, OBV recorded an increase as buying pressure increased. An extended bullish scenario could offer the next resistance levels at $ 3.93 (0.618 fib level) and $ 4.4 (1 fib level).
Verge (XVG) price analysis
On the hourly chart, the Verge moved within a parallel ascending channel after stepping up from the $ 0.016 support. Chaikin Money Flow has seen an increase due to strong capital inflows for the cryptocurrency market. However, an upward break is unlikely as trade volumes remain silent.
The stochastic RSI underlined the oversaturation of buyers in the market as the index is trading in the upper zone. The scope of the return will determine whether the Verge can break down from the model. A bearish scenario could result in the price moving down and towards the $ 0.018 support.