XTZ was launched on 20th April 2017. It is an Ethereum based token. It is the first of its kind in the Cryptocurrency world. It uses proof of stake algorithm. It is a completely new type of crypto currency and has almost no competition in the market.
XTX is a cryptocurrency with the symbol XTZ, that is currently ranked 616 in CoinMarketCap. Its market capitalization is around $150 million. The coin was created in March 2014, and has not had a big change in market cap since then, when it was worth $0.1. The reason for this is that the coin has never been traded in large volumes, meaning that nobody has bought or sold it. Which means that the price of XTZ has been kept low by the fact that there are no large coin holders that would drive the coin up in price. But that could be about to change.
Bitcoin is one of the most valuable currencies in the world, and the most common cryptocurrency. This year, it has been on a steady climb, and now if you were to look at Bitcoin’s price chart from last year, you would see that it has hardly moved since mid-December 2017. Today, Bitcoin is valued at just under $6,000. If you were to follow Bitcoin’s price over the past few years, you’d see that it has increased about 20% in the past month alone. This level of increase is rare, since the market usually only moves up 10% or so every quarter.
If the surge continues and Tezos gets support from the wider market, it may set a new 30-day high.
The cryptocurrency market has had a good run in recent days, with most currencies’ values rising by 5% or more in the previous week. Bitcoin has broken over the $45,000 barrier level and is on its way to $50,000.
Ether is also trading over $3,100, up almost 90% from its low point earlier this month. Tezos, like the rest of the market, is seeing a sluggish comeback. Tezos may be able to burst over the $3.50 barrier in the next hours if market circumstances are favorable.
Analysts are bullish on the market, believing that prices would rise in the next days. While short-term price movements may be turbulent, experts are more confident about market success over the medium and long term.
XTZ Price Predictions
The 4-hour chart of XTZ/USD is now positive, comparable to other major cryptocurrencies in the market. Tezos’ technical indications are presently favorable, indicating that a further breakthrough may occur in the coming hours.
XTZ has gained almost 3% in the last 24 hours. The XTZ/USD pair may soon break above the first significant barrier around $3.53 if the present trend continues. Tezos would hit a new 30-day high if it moved over the $3.53 barrier mark.
4-hour chart of the XTZ/USD currency pair. Source: Coinalyze
Tezos may aim for $4 in the case of a sustained market resurgence. However, sustaining a rise to this level would need the backing of the wider cryptocurrency market.
Failure to break through the $3.50 resistance level, on the other hand, may lead to a decline in XTZ’s price to the $3.13 support level. Unless there is a prolonged market sell-off, the 4-hour 200 SMA ($2.82) should restrict additional negative movement.
When the price of Ripple jumped above $1.00 last week, investors wondered if the momentum would continue, what with the stock having risen over 400% since the beginning of the year. Fast forward to the end of February, and the XRP price has hit a new all-time high of $2.43.. Read more about tezos and let us know what you think.
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