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Crypto Technicals: Tezos resumes upside, eyes 78.6% Fib at 1.6383

XRP/USD chart - Trading View 

Exchange - Bitfinex

Support: 1.3772 (5-DMA); Resistance: 1.6383 (78.6% Fib)

Technical Analysis: Bias Bullish

- Tezos has resumed upside after brief consolidation phase
- XTZ/USD has hit new 6-month highs at 1.51, bias higher
- The pair is holding support at 5-DMA, break below will see weakness till 21-EMA
- Bullish continuation eyes next resistance at 1.56 (Oct 16th 2018 high) ahead of 78.6% Fib at 1.6383.
- Oscillators are at overbought levels, so, caution and trade with tight stops advised
- Bearish divergence on RSI and Stochs also keeps scope for downside

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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