Tezos price stands out from the crypto market
The Bitcoin price has not set a particularly strong week. With a price drop of 0.69 percent, the largest cryptocurrency by market capitalization currently stands at just under 7,250 US dollars. Also in the 24-hour chart, the cryptocurrency number one is currently in the red, here it is 1.23 percent loss.
Overall, the top 20 altcoins do not look bullish at all. For example, the Ethereum Course (ETH) and the Ripple Course (XRP) each record 24-hour losses of just over one percent. However, if you look at 11th place, one candidate stands out: the Tezos Course (XTZ),
The technical analysis
The technical analysis of the Tezos course as always by Dr. med. Philipp Giese
Since the beginning of November, the Tezos-Kurs can defy the sometimes awkward price developments in the rest of the crypto market. Since October 25, when the previous downtrend has been broken, XTZ has more than doubled its price.
The course is moving in a hitherto stable upward channel, which was not tested by the recent setback. Overall, the indicators give a bullish assessment, so you should think about a long position. A good entry point is $ 1.46, the target is $ 1.87 and the stop loss is $ 1.53. Only a fall below $ 1.30 would result in a recommendation for a short position. In this case, the moving average target would be $ 1.12 over the last 200 days. As a stop loss, one can orientate on the support of the current upward channel, which is currently at 1.35 US dollars.
How does Tezos stand out from the competition?
Tezos is in direct competition with the smart contract platform Ethereum. Dynamic Ledger Solutions sprang up the project and raised $ 223 million in 2017 through the Initial Coin Offering (ICO). Tezos is characterized by the way in which it develops. Tezos is unlike Ethereum get along without Hard Forks. Should a protocol internal change process be imminent, the ecosystem is designed to be self-updating without members having to perform a hard fork.
Like Ledger via his Twitter channel tells, the wallet provider now also supports Tezos Staking. It was also announced last week that the same applies to Binance. Users can now also operate Tezo's staking on the Bitcoin exchange.
More about the juxtaposition of Ethereum and Tezos can be found here.
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .
