Tezos (XTX) has had a tough few months, but things are looking up for this blockchain cat patent-pending 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.
The Tezos (XTZ) recovery has been nothing short of impeccable. The coin has come from six-month lows to report gains of over 80%. Moreover, it’s’s gone up almost threefold in just the last few weeks. At one point, XTZ was even testing $5.
Related Reading | Fear Returns With A Vengeance Following $400B Crypto Market Crash
While many coins feel the pressure due to increased tensions between Europe and America, Tezos has taken a significant hit. 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) is the most promising smart contracts platform in existence right now. The design of Tezos promises to offer better operations than Ethereum. Moreover, increased investor interest and a high rating from market experts make it worth keeping an eye on.
Related Reading | Ethereum Price Falls Amid Global Tensions
The XTZ has been a top performer in the cryptocurrency market, registering an impressive gain this year. It is indeed one of those cryptocurrencies you should consider adding to your portfolio. Especially when considering its current market value, which rests at 2.6 billion dollars.
Future Of Tezos (XTZ)
There is no way to know what the future will bring, but analysts and traders use algorithms for short-term investments like predictions about cryptocurrency prices or long-term forecasts. For example, we can predict whether a specific token like Tezos seems promising by looking at these mathematical models. The Modules calculate how profitable it would be if I put all my money into this particular project now vs. waiting until later when its price may go up even more than expected.
The price of Tezos has truly somersaulted in a year that saw its XTZ trend transform from the beginning towards the end. The coin’s history is quite impressive. There are many opportunities for growth around alliances with all said and done. New partnerships would bring this crypto to life as it becomes a center stage on earth where investors can see their investments thriving.
Featured image from Flickr, the chart from TradingView.com