DOGE Rises on Spacex News, XTZ Recovers from Recent Losses – Market Updates – Bitcoin News


DOGE rose on Saturday, following yesterday’s tweets from Elon Musk confirming that Spacex may soon accept memecoin as a payment option for merchandise. Tezos was also higher entering the weekend as it surged nearly 5%.

Dogecoin (DOGE)

DOGE was one of the most notable movers in the crypto markets on Saturday as traders continued to buy the memecoin following a recent tweet from Elon Musk.

As we covered yesterday, musk stated that Spacex merchandise will soon be available to purchase using DOGE.

DOGE/USD hit an intraday high of $0.08538 on the news, taking prices to an 11-day high in the process.

Biggest Movers: DOGE Rises on Spacex News, XTZ Recovers from Recent Losses
DOGE/USD – Daily Chart

This move saw the memecoin stay marginally below its $0.08500 resistance, however as traders moved to lock in gains some of these earlier gains were lost.

As of this writing, DOGE is now trading at $0.08124, which is close to its recent support level of $0.08080.

Price strength still remains elevated despite the rally easing, with the RSI hovering above its resistance at 35.5.

Tezos (XTZ)

Following two consecutive sessions of declines, XTZ rallied on Saturday as prices moved towards a short-term resistance point.

XTZ went from trading above $2.25 on Thursday to fall to $1.75 during yesterday’s session. However, the bulls have since re-entered, and now prices are consolidating.

On Saturday, XTZ/USD reached an intraday high of $1.94, which is marginally below an interim resistance level of $1.95.

Biggest Movers: DOGE Rises on Spacex News, XTZ Recovers from Recent Losses
XTZ/USD – Daily Chart

The bulls are likely to look to recapture the $2.00 level, however, in order to do so, there are a few hurdles to overcome.

One of the main ones is the 44.80 ceiling on the 14-day RSI, which has been broken once in the last two months.

However, if this breakout, we are likely to see an influx of bulls taking prices back towards the $2.25 level, but if such a breakout fails, we could see a move closer to the $1.65 support.

Could Tezos reach the $2.00 level this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, having worked as a brokerage director, retail educator, and market commentator on Crypto, Stocks, and FX.

image credits: Shutterstock, Pixabay, Wiki Commons

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