Dogecoin, EOS, Tezos Price Analysis – February 16
Dogecoin bulls protected the Point of Control barrier at $0.143 and strived to overpower the resistance of $0.15. However, EOS and Dogecoin flashed weak directional trends. Tezos witnessed an upward channel breakdown as it gained strength from $3.7. Increased pressure from buyers will see XTZ retesting $4.4.
Dogecoin reversed its losses since touching 9-month lows on January 22, recording 43.5% ROI to test $0.167.Meanwhile, sellers joined around the $0.167 resistance, translating to an upward channel breakdown over the past four days. The pullback secured support near the 2-month Point of Control around $0.143. The closest obstacle from the meme coin remains at $0.15.
While publishing this article, Dogecoin traded at $0.1496. The Relative Strength Index saw an up-channel revival after approaching the oversold territory. That had it closing beyond the half-line. However, the indicator struggles to overcome the 54-level. A close beneath the bottom trend-line might see RSI retesting 42. Meanwhile, the ADX displayed lower troughs and peaks, confirming feeble directional trends.
Bulls dominated as the alt gravitated to 6-month lows on January 24, and XTZ bounced to reclaim the support of $3.7. The crypto saw an 81.2% ROI as it printed an ascending channel to hit $4.5 on February 10. After that, the upward channel breakdown discovered massive support at $3.7. For now, bulls try to overcome $4.1. A close past this mark will see XTZ testing levels near $4.4.
While publishing this content, Tezos changed hands neat $4.11. The RSI witnessed a 24-point jump over the past 48 hours, escaping the oversold region to close beyond the half-line. A close past the 56-mark may lead to a $4.4 retest. Moreover, the Awesome Oscillator hovered beyond this equilibrium, suggesting increased buying strength.
As EOS explored long-term downward trends, it saw many sell-offs, losing crucial support levels (now resistances). The coin saw a 42.03% drop from December 27, touching 22-month lows on January 24. Since then, EOS experienced an upward channel, surging 39.02 to climb towards $2.6. The past 48 hours had a plunging wedge breakout, but EOS could not break the resistance at $2.5.
At this publication, EOS traded beyond the 20-200SMA of $2.487. The Relative Strength Index recorded upswings, poking the 61-level on February 16 (today). Bulls should protect the half-line barrier to avoid a 20SMA retest. Meanwhile, the DMI showed buyers’ preference, as the ADX highlighted a frail directional bias.