Tezos, Bitcoin & Solana — Asian Wrap 04 Oct


XTZ price looks ready for a downswing as two significant sell signals erupt on the 12-hour chart. While Bitcoin price consolidates, things are looking indecisive for Tezos and the altcoin market. XTZ price set up three higher highs since September 15, while the Relative Strength Index (RSI) created two lower lows.

 

Bitcoin price was consolidating as it trended lower since the September 6 swing high. Interestingly, this downswing resulted in the formation of a bullish pattern that broke out on October 1. The resulting rally pushed BTC through overhead barriers. However, the momentum needs to clear one more level for a continuation of this uptrend.

 

Solana price slid into consolidation from September 21 to September 31, forming a symmetrical triangle pattern. A spike in bullish momentum led to a breakout, pushing SOL by 23%. However, the altcoin can go higher, but it needs to clear a crucial resistance barrier.



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