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Tezos Price Reached New Yearly Highs Yesterday, YTD Gains At 200%

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Tezos Foundation's portfolio

In times when most of the top cryptocurrencies are struggling to gain back the bullish momentum seen at the start of the year, the Tezos price reached new yearly highs and continued climbing up even yesterday during the bearish situation on the market. The cryptocurrency reached a new yearly high signalling a further upward advance.

In more detail, the altcoin news and rumors showed that Tezos (XTZ) has seen a price increase by more than 200% since the start of 2020 and as of today, has a year-to-date return of 761%. Despite the exponential appreciation, it seems like its investors cannot get enough of XTZ.

The Tezos price reached new all time highs and XTZ was able to hit a new yearly high of $3.80 yesterday, after which the coin corrected and is now trading in the $3.65 region. But what is amazing is that the TD sequential indicator estimates that the coin could continue its uptrend for another four weeks before a sell signal is presented.

Since the weekly candlestick is a green five, the technical index forecasts a run-up to a green nine candlestick which will be considered a sell signal. Moreover, the parabolic stop and reverse or “SAR” has just presented a buy signal on XTZ’s 1-day chart. Every time the stop and reversal points move below the price of the asset, it is considered to be a positive sign.

A bullish formation like this proves that the Tezos price reached a new yearly high. XTZ surged nearly 133% after January 29 which is a massive momentum being built up for the cryptocurrency – going from $1.55 to a high of $3.80 and now $3.65.

The recent break of the $3.60 resistance level is still good for XTZ. The Tezos news show that it adds credence to the bullish patterns mentioned above and suggests that Tezos could experience a further increase in the buying pressure behind it. A spike in demand could push the price of the cryptocurrency up to the 200% Fibonacci retracement level which sits at $5.96.

On the way up, XTZ could find significant resistance around $4.24, $4.57 and $5. It is also worth noting that many investors are optimistic about XTZ as the Tezos price reached a new yearly high – and cannot hide their excitement. According to the social engagement info, 78% of all social media posts about Tezos are bullish.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Tezos News

Tezos Could Rally 40% In Coming Days After A Bullish Breakout

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XTZ price rises
The latest crypto news today show that the market saw a notable rally this Tuesday, as Bitcoin went above $7,390 and ETH overcame the $170 mark which was something unexpected for the biggest altcoin out there. All of this allowed altcoins like Tezos (XTZ) to gain some independent momentum - and according to analysts, Tezos could rally even more in the future and even outperform BTC's gains. As we can see, the momentum seen by XTZ may be just a hint of what is coming in the days and weeks ahead. Analysts are already noting that this coin broke above a key horizontal resistance which may give it room to rally even further. The altcoin also managed to break out of a bullish technical pattern that it had been establishing. All of this led analysts to claim that its next uptrend could be intense. So, Tezos could rally in the future and XTZ is trading well right now. At the time of writing, the Tezos news show that the coin is trading up by 19% at a current price of $2.08, which marks a massive climb from the daily lows of $1.65 that were set yesterday while the cryptocurrency was caught within an extended bout of sideways trading. Today's rally has allowed XTZ to outperform Bitcoin by more than 4%, which is a common trend today among many major altcoins. It now appears that the highly bullish crypto is breaking above the upper boundary of an ascending triangle which has been forming over the past few weeks. According to a popular analyst on Twitter, Tezos could rally soon and establish a bullish pattern. As he said while pointing to a chart:
“[Versus] USD we are peaking above the resistance of the ascending triangle.”
https://twitter.com/TeddyCleps/status/1247195128005046277 As for where all this could lead Tezos (XTZ), the opinions are divided. One analyst is noting that it could reach higher levels than $2, while others think that it can also clear $3 which would be an approximate 50% climb from the current price levels. In a recent tweet, the respected crypto trader Loma said that he will be trading the two aforementioned resistance zones, accordingly. All in all, Tezos' momentum may remain somewhat dependent on that of Bitcoin. Assuming that BTC is able to climb higher or remain stable in the days ahead, it is likely that XTZ could see a new extension of this uptrend.
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Tezos News

Tezos Could Use Alternative Blockchain For Trading Card Game

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XTZ price rises
Tezos could use another blockchain for the upcoming trading card game by Kathleen Breitman who is the co-founder of the company. Breitman told the Tezos community that her game could use an alternative blockchain rather than the Tezos one as we are reading in the tezos news below. What is also interesting is that the other co-founder of Tezos Arthur Breitman is not a part of the Tezos Technical Committee anymore, which was a piece of news that caught the attention of the entire community. As per the co-founder, Tezos could use an alternative blockchain for the upcoming blockchain-based trading card game despite the whitepaper of the game citing the use of the tezos native cryptocurrency. Breitman hasn’t decided yet for the platform for the game which means Tezos could use another blockchain for the purpose. Kathleen and her partner Breitman built the Tezos blockchain but it seems that she will not give up on the upcoming card game Emergents to the smart contract platform. Emergents as announced back in March and was described as a blockchain-based competitor for card games such as Magic and Hearthstone. The payments in the game were reported to be made in the Tezos native cryptocurrency XTZ. Now, this seems not to be the case as she said that she hasn’t decided on the platform for Emergents yet:
 “I haven’t decided on the platform for Emergents. The alpha doesn’t have a marketplace, it’s an alpha. The white paper doesn’t describe any feature that could not be satisfied with any other smart contract platform. I have an obligation to my investors to pick a platform with certain properties, and I am not bound to Tezos.”
The news comes during multiple other developments within the community. The primary was that Arthur Breitman left the platform's Technical Advisory Committee and stated that he ‘’bowed out from his already minimal activities after receiving veiled threats.’’ Both announcements made the community assume that due to the close connection between the platform and Emergents, the game will be built on the XTZ blockchain as well as according to the whitepaper. Another user wrote to Kathleen saying that she had a few other opportunities to state that the game will not be built on Tezos and finding out now is considered a slap to the face of the community.
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Tezos News

Tezos Cryptocurrency Follows Inverted Hammer Reversal Candle

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XTZ price rises
The tezos cryptocurrency has returned down to Earth after the skyrocketing since the start of the year. However, according to one crypto analyst, a  moon mission is next for the Tezos cryptocurrency after the inverted hammer reversal candle as we are reading in the tezos price news. A few other altcoins had a strong start of 2020 as Tezos did as the almost 200% price rally took the coin to as high as $4 before the recent market crash halved the assets down to their current state. Like most of the cryptocurrencies, Tezos dropped by more than 50 percent during the coronavirus pandemic crisis hit. The traditional assets such as the stock market and the gold also suffered record-breaking losses. The collapse of the prices took Tezos back to a dollar which is a 75 percent decline but the assets are quite strong and before the sell-off, Tezos will rebound quite fast. According to another crypto analyst, Tezos will do just that on the XTZ/BTC trading pair where the asset will start a massive moon mission against Bitcoin in the close future. The powerful move to the upside is expected to follow the inverted hammer candle which is a common reversal candlestick that looks like a hammer. The inverted hammer formations are often created when the open and close with the proximity upper wick at least twice the size of the candle body is left behind. The XTZ price action shows a defense level by the bullish investors and traders and the candle could tip off the analysts about what can they expect for the future price movements which could be a bullish momentum. This could signal that the buyers are outweighing the sellers and the XTZ price could soon start a reversal trend. The investors are also quite bullish on Tezos still. From the 2018 bottom to the recent peak, Tezos grew by value by more than 400%, reaching a reputation for providing huge profits for the crypto investors. The value helped the tezos cryptocurrency to enter the top ten cryptocurrencies by market cap and earned increased visibility with the investors and placed itself among the safer investment cryptocurrencies in the space. Tezos also offers an annual APY return in more XTZ tokens, tor everyone, that stakes their holdings on the blockchain.
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Tezos News

Bullish XTZ Charts Show Altcoin Could Skyrocket Soon

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XTZ price rises
The tenth biggest cryptocurrency Tezos (XTZ) is now trading at $1.67 price level, showing an increase of 6.07 percent. The traders on the market are bullish on this promising coin and are expecting it to skyrocket soon and show a 10-20 percent surge as we are reading the bullish XTZ charts and news below. The analyst Crypto Michael is bullish on XTZ and he shared his short-term expectation of seeing it rise by 10-20 percent to the 2,750/3000 Satoshi level which is about $2 at the current rates. The previously mentioned analyst is not the only one that is bullish on XTZ right now but the CryptoDog assumes that the coin will start pumping soon. The user Crypto White Walker also posted another one of the bullish XTZ charts. XTZ was listed on Binance and the coin got exposed to a bigger portion of the investors. Tezos Foundation’s portfolio is looking good these days after a number of restructuring strategies and efforts. The asset management strategies reduced the foundation’s exposure to crypto in a time when most of the cryptocurrencies crashed to new lows not seen in months. The Tezos Foundation played its cards well but this hasn’t provided a shield against significant losses for the coin. There were no survivors from the catastrophic COVID-19 economic crash. Tezos dumped about 68% below the $1.20 point before making a marginal recovery. If Tezos breaks beneath the trend line, the first major level of support is located at $1.40 provided by the .786 Fibonacci Retracement level in the long term. Beneath this, the support can be found at $1.30, $1.20 and $1.06 from the .886 Fibonacci Retracement Level. While the developments of the blockchain and baking protocols are expected to flourish, the short term charts are showing a different picture. The hourly candle crossed the 50MA line giving the major bearish signal towards $1.45 support level. The RSI oscillates in the bearish territory entering the selling level at 48. Tezos settled the outstanding class-action lawsuit after they calculated that the longer it takes to finish this process, the company will only lose more money. The long-running legal battle concerned the $232 million initial coin offering that was held in 2017 and there were some allegations that it was actually an unregistered securities sale.
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