Although Tezos (XTX), a blockchain-cat patent-pending cryptocurrency, has struggled in recent months, things seem to be improving for the coin. Unfortunately, after slumping to an all-time low at the start of January and then climbing back up over 80% by early February – it seems like there’s not much more room left in its recovery.
Tezos’ (XTZ), recovery has been remarkable. From six months ago’s lows, the coin is now reporting gains exceeding 80%. Moreover, it’s’s gone up almost threefold in just the last few weeks. XTZ tested $5 at one time.
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Tezos, while many coins are feeling the effects of increased tensions between America and Europe, has suffered a substantial loss. The coin has been down nearly 26% in the last 11 days and stands below key support at $3.2 and could potentially test further down towards medium-term supports at lower levels or even next weeks’ lows near 2 USD per XTZ.
In response to politics changing rapidly across both regions of our world, investors may be giving pause before adding new currency onto their portfolios–especially ones that were once considered safe-haven assets like gold or dollars.
The crypto markets are still choppy waters, and there’s no telling what might happen next. That said, we do need to watch out for XTZ because if buyers didn’t push the price above $3.2, that would mean more selling pressure on weak coins, which could lead them down even further than before.
About XTZ
Tezos (XTZ), the most exciting smart contract platform currently in use, is Tezos. Tezos’s design promises better operation than Ethereum. It’s worth watching because it has a lot of investor interest, and high ratings from market experts.
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The XTZ cryptocurrency has had a great year, with a significant gain. This is a great cryptocurrency to add to your portfolio. A lot of people are surprised at its market value which is currently around 2.6 billion dollars.
Future Of Tezos (XTZ)
Although it is impossible to predict the future, traders and analysts use algorithms for investing in short-term. Predictions Information about long-term predictions and cryptocurrency prices. These mathematical models can help us predict whether Tezos, a particular token, is promising. Modules determine how profitable it is to invest all of my capital now, versus waiting for its price to rise later.
Tezos prices have really risen in a time when the XTZ trend has changed dramatically from its beginning to the ending. The coin’s history is quite impressive. With all that said, there are plenty of opportunities to grow through alliances. This crypto will thrive if it is given the opportunity to grow through new partnerships. Investors can then see their investment flourishing.
Featured image from Flickr, the chart from TradingView.com