XTZ, the native coin of blockchain network Tezos, has emerged as the top-performing cryptocurrency over the past 24 hours. Its value has surged by 38% to trade at a seven-month high of $1.13 as of this writing.

However, the price increase has triggered growing selling pressure, indicating a potential pullback ahead.

Tezos’ Traders Scamper for Gains

XTZ’s price has climbed by 38% over the past 24 hours and currently ranks as the market’s top gainer. This surge follows the announcement that the staking platform Everstake will support cryptocurrency.

The rally is further fueled by a recent Q3 2024 report from analytics platform Messari. The report highlights strong growth signals for Tezos, including increased transaction volume, more decentralized applications, a rise in upgrade proposals, and a growing active validator count.

However, the recent price jump has prompted many XTZ holders to seek profit, as evidenced by the spike in the coin’s exchange inflow. Per Coinglass, as of Tuesday, XTZ’s exchange inflow is $2.22 million, its highest since the beginning of the year.

When an asset’s exchange inflow spikes, a significant amount of that asset is transferred onto exchanges for sale from wallets or other platforms. This can put downward pressure on XTZ’s price, causing it to shed its recent gains.

Additionally, the overbought readings from the coin’s Relative Strength Index (RSI) confirm the likelihood of a price correction in the short term. At press time, XTZ’s RSI is 74.26. 

The RSI indicator measures an asset’s oversold and overbought market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for correction. On the other hand, values below 30 indicate that the asset is oversold and may witness a rebound.

Therefore, XTZ’s RSI of 74.26 suggests it has experienced strong upward momentum and may be due for a correction or pullback. It indicates that the coin’s price has risen too quickly, and there might be an increased risk of a price reversal.

XTZ Price Prediction: Coin May Drop Below $1

XTZ is currently trading at $1.13, holding above the $1.07 support level. If buying momentum weakens, the price may drop to this key support. A failure to maintain $1.07 could push XTZ below $1, potentially falling to $0.97 — a 14% decline from its current value.

If the uptrend continues, XTZ could break past the $1.19 resistance and advance toward $1.40, signaling further bullish momentum.

Ethereum price started a consolidation phase near the $3,000 zone. ETH is slowly moving higher and might aim for a fresh surge above $3,220.

• Ethereum is consolidating and facing hurdles near $3,220.
• The price is trading above $3,150 and the 100-hourly Simple Moving Average.
• There was a break above a key bearish trend line with resistance at $3,130 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it clears the $3,220 resistance zone.

Ethereum Price Faces Hurdles

Ethereum price remained supported above the $3,000 level like Bitcoin. ETH formed a base and recently moved above the $3,120 and $3,150 resistance levels.

There was a break above a key bearish trend line with resistance at $3,130 on the hourly chart of ETH/USD. The pair even cleared the $3,200 level and tested $3,220. A high was formed at $3,224 before there was a pullback. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,051 swing low to the $3,224 high.

Ethereum price is now trading above $3,150 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,200 level.

The first major resistance is near the $3,220 level. The main resistance is now forming near $3,250. A clear move above the $3,250 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,450 resistance zone.

Another Drop In ETH?

If Ethereum fails to clear the $3,220 resistance, it could start another decline. Initial support on the downside is near the $3,140 level or the 50% Fib retracement level of the upward move from the $3,051 swing low to the $3,224 high. The first major support sits near the $3,050 zone.

A clear move below the $3,050 support might push the price toward $3,000. Any more losses might send the price toward the $2,940 support level in the near term. The next key support sits at $2,880.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,140

Major Resistance Level – $3,220

Big Time Studios, a player in Web3 gaming and the creator of Big Time, has unveiled its newest product: the OL token.

With the Open Loot platform already handling nearly $500 million in transactions, the introduction of OL sets the stage for a new era of engagement, rewarding the very players and developers who fuel its success.

A Token for Engagement, Not Speculation

Unlike traditional token launches, which take a fundraising-heavy approach, Big Time Studios is flipping the narrative. The OL is designed to prioritize the community above all. By rewarding activity and participation, OL becomes a tool for empowerment rather than speculation. This shift reflects the company’s commitment to reshaping how tokens integrate into gaming ecosystems.

Players can earn OL through meaningful interactions, such as completing in-game challenges or participating in special platform events. Once earned, these tokens open doors to benefits such as early access, special NFT opportunities, and in-game rewards. The system ensures that loyalty and engagement directly translate into tangible advantages.

“Just saw a little glimpse via private demo of what the guys @playbigtime are building, lets just say things are looking TOP TIER. Blown away by the level of detail top to bottom. Can’t wait for more,” said one X user.

For developers, OL serves as a bridge to deeper player relationships. Studios can use the token to reward milestones, enhance limited-time events, or craft targeted incentives that boost engagement. This dynamic makes $OL a tool for attracting players and keeping them invested in the ecosystem for the long term.

The launch of OL departs from traditional token models. No tokens are pre-sold, allocated to teams, or reserved for early investors. Instead, the entire distribution relies on community involvement, ensuring fairness and accessibility. This structure reinforces the token’s core mission: to give back to the community that feeds it.

Big Time Studios integrates OL into the Open Loot platform, which has already simplified blockchain gaming for a global audience. The platform’s patented Vault technology removes the usual hurdles of Web3 gaming, such as high gas fees or complex wallet connections. Players can buy, sell, and mint NFTs or explore options like NFT rentals and currency marketplaces. These features make blockchain gaming approachable for both seasoned enthusiasts and newcomers.

The Open Loot ecosystem has seen explosive growth in 2024, with millions of NFTs exchanged and crafted by an active player base. The platform supports a roster of standout titles, including World Shards and The Desolation, each offering distinct gameplay experiences.

The launch of OL marks a new chapter for Big Time Studios. Their idea is that by centering the token around active participation and rewarding its community, they contest traditional token models. As OL integrates further into the Open Loot ecosystem, it hopes to reshape the relationship between players, developers, and digital assets.