Tezos (XTZ) and Reserve Rights (RSR) Technical Analysis: Bull Resurgence

Dalmas  |  Sep 25, 2021

Tezos and Reserve Rights prices are firm but steady week-to-date. XTZ is rampant above $4, while RSR is under pressure and may slip to $0.03.

Tezos (XTZ)

The Tezos blockchain is self-amending and stable, designed to be the competitor of Ethereum using XTZ as the primary token.

Past Performance of XTZ

The Tezos token is firm to the upside, adding 11 percent versus the greenback at the time of writing.

Most importantly, the XTZ crypto prices are moving inside a rising channel. Rising volumes indicate demand in lower time frames.

Day-Ahead and What to Expect

As per the XTZ technical analysis in the daily chart, the path of the least resistance remains northwards.

After temporary dips in early this week, the XTZ coin is expanding — lifted with an uptick in trading volumes, buoying prices above critical support lines. Provided the Tezos coin is above $4, buyers have the upper hand.

Tezos Technical Analysis

Tezos Daily Chart for September 25

Overall, Tezos bulls are in control, as per the performance in the daily chart.

As the XTZ token is steady above the primary support trend line and $4, every low provide entries for buyers targeting $8.5.

A break above H2 2021 highs may see the Tezos crypto price soar to $13—the 1.618 Fibonacci extension level of the H1 2021 trade range.

Reserve Rights (RSR)

The Reserve Rights platform employs a dual-token system, where the RSR stabilizes the RSV stablecoin.

Past Performance of RSR

Although the RSR crypto price is firm to the upside, there are hints of weakness as per the RSR technical analysis in the daily chart.

Specifically, the contraction of RSR token prices on September 24 could trigger more losses in the days ahead.

Notably, the RSR price is still within a bearish breakout pattern per candlestick arrangement in the daily chart.

Day-Ahead and What to Expect

The pullback of Reserve Rights crypto on September 24 validates the bear breakout pattern of this week. Therefore, sellers are in control as long as Reserve Rights coin prices are below $0.04 and the middle BB.

In this likelihood, RSR coin prices may tank below $0.03.

Reserve Rights Technical Analysis

Reserve Rights Daily Chart for September 25

The RSR coin is within a bear breakout pattern, as visible in the daily chart.

The failure of bulls to wind up losses early this week places RSR bears on top from a trading volumes analysis perspective.

Even so, RSR buyers stand a chance above $0.03.

A close below this mark would see the coin tumble to $0.015. On the flip side, RSR would be steady and find footing above $0.04.

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