Tezos (XTZ) and Reserve Rights (RSR) Technical Analysis: Bulls Taking Over from Bears

Dalmas  |  Oct 4, 2021

Tezos and Reserve Rights (RSR) bull are firm as prices print higher, defying gravity. RSR may edge back to $0.04, while XTZ could break above H1 2021 highs towards $13.

Tezos (XTZ)

The self-amending platform supports smart contracting using XTZ as the primary currency.

Past Performance of XTZ

The Tezos crypto is at the cusp of price discovery, retesting H1 2021 highs of $8.5 as per the XTZ technical analysis in the daily chart.

At the time of writing, the XTZ token is up five percent, outperforming the greenback on the last trading day.

Day-Ahead and what to Expect

The XTZ crypto is at a critical point as per the candlestick arrangement in the daily chart.

Depending on the reaction at $8.5, the XTZ coin price could blow to a new all-time high.

Conversely, rejection of higher prices would see prices fall, resulting in a potential double top.

Tezos Technical Analysis

Tezos Daily Chart for October 4

The uptrend is firm as Tezos crypto prices print higher with rising trading volumes.

Depending on the reaction at $8.5, as mentioned earlier, Tezos prices could either soar or dump.

A high volume close above H1 2021 highs would see XTZ coin soar to $13—the 1.618 Fibonacci extension level of the H1 2021 trade range.

On the reverse side, losses below $7 result in a double-top, a precursor for more dips towards $5.5—or worse.

Reserve Rights (RSR)

The RSR token stabilizes the protocol's stablecoin, the Reserve stablecoin (RSV).

Past Performance of RSR

At the time of writing, the RSR crypto token is stable but nonetheless bouncing from the primary support building on gains of late September 2021.

Even so, the uptrend is valid depending on the confirmation of last week's bulls.

Day-Ahead and What to Expect

The probability of Reserve Rights token motoring higher in continuation of the July-August 2021 rally remains high.

At present, favorable candlestick arrangement reading from the RSR technical analysis of the daily chart may draw buyers angling for $0.04 in the short term.

However, if bears flow back, rejecting higher highs, RSR crypto prices may tumble lower in sync with the September 2021 trend.

Reserve Rights (RSR) Technical Analysis

Reserve Rights Daily Chart for October 4

RSR coin prices are bouncing back from around the 78.6 percent Fibonacci retracement of the recent swing high low.

With the confirmation of the double-bar bullish reversal pattern, Reserve Rights token buyers have the upper hand.

As a result, every low may provide favorable entries for buyers targeting $0.04. On the reverse side, losses below $0.03 may lower RSR prices, even halving to $0.015.

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