DOGE climbs after Spacex news, XTZ bounces back from recent losses – Market Update Bitcoin News

DOGE rose on Saturday after yesterday’s tweet from Elon Musk confirmed that Spacex may soon accept memecoin as a payment option for goods. Tezos also started the weekend higher, gaining nearly 5%.

Dogecoin (DOGE)

DOGE was one of the most high-profile movers in the crypto markets on Saturday, as traders continued to buy memecoins following Elon Musk’s recent tweet.

As we reported yesterday, Musk said SpaceX merchandise will soon be available for purchase using DOGE.

On the news, DOGE/USD hit an intraday high $0.08538, pushing the price to an 11-day high.

Biggest movers: DOGE climbs after Spacex news, XTZ bounces back from recent losses
DOGE/USD – Daily Chart

The move left memecoin hovering below its resistance at $0.08500, but some of these early gains were lost as traders entered to secure profits.

At the time of writing, DOGE is now trading at $0.08124, near its near-term support at $0.08080.

Despite the easing of the surge, the price remains elevated with the RSI hovering above its resistance at 35.5.

Tezos (XTZ)

After falling for two consecutive sessions, XTZ It bounced back on Saturday as prices moved toward short-term resistance.

XTZ From trading above $2.25 on Thursday, it fell to $1.75 during yesterday’s session. However, the bulls have re-entered and the price is now consolidating.

Saturday, XTZ/USD hit an intraday high of $1.94, just below interim resistance at $1.95.

Biggest movers: DOGE climbs after Spacex news, XTZ bounces back from recent losses
XTZ/USD – daily chart

The bulls may be looking to retake the $2.00 level, but there are a few hurdles that need to be overcome to do so.

One of the main factors is the 44.80 ceiling on the 14-day RSI, which has been breached once in the past two months.

However, if such a breakout fails, we may see an influx of bulls to bring the price back to the $2.25 level, but if such a breakout fails, we may see support closer to $1.65.

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

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.

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