Tezos (XTZ) Price Prediction: Will The Bearish Market Ends XTZ Momentum?

• Tezos Price Prediction has been the key concern of the traders since it is on a downtrend.
• The tenth-largest cryptocurrency in the world was having a significant bullish momentum since the starting of the year.
• However, the bearish market for the past two days has forced the altcoin to a downtrend.

This year has been positive for tezos until 15^th February after which the whole crypto market is facing downtrend. It started the year with a price of $1.49 and reached its new-high of the year by breaking a $3.50 mark. Now the question is whether the current bearish wave will take away the bullish momentum built by this altcoin?

Tezos(XTZ) Market Data

Tezos (XTZ) Fundamental Value

According to Weiss Crypto Ratings, one of the global leading market research firms, Tezos(XTZ) has been impressive this year. So far, it has gained more than 190% in this year. The fundamental factors behind this incredible performance are as follows:

• Governance Model: XTZ has a flexible governance model due to which any XTZ holder can propose an upgrade for the network and if supported by other XTZ holders, the proposal can be implemented.
• Annual Dividends: Tezos holders receives annual dividends for validating transactions. XTZ holders can validate their transactions using Proof-of-Stake (PoS) consensus algorithm provided by the XTZ community.
• Highly Decentralized: Tezos has 80% of tokens which are actively participating in the validation of the network. It also has the largest baker controlling of 6.57% of total tezos in circulation.

Tezos (XTZ) Latest News

• Vertalo, one of the leading operating systems for digital assets, has made tezos its default blockchain. It is encouraging to switch over from Ethereum.

• Weiss Crypto Ratings rated Tezos a B- due to its slow processing speed.

 Tezos Current Price Analysis(Feb2020)

The charts reflect on the downtrend face by XTZ since past two days. Breaking the mark of $3.00, it went down to the low of $2.80 which acted as a support level. The bearish momentum in the market has resulted in XTZ price to go below and above $3.00 at multi-time. It reached its day-high which was $3.25 and went back again to $3.00 level.

This majorly indicates that the resistance and support levels of the altcoin are playing a major role in the current downtrend. This means that the bulls may have change to get a comeback from here.

The technical indicators support XTZ bulls. RSI is able to sustain itself in positive zone after reaching oversold territory. CCI also faced oversold conditions twice in the day but somehow able to get to the positive zone currently. MACD levels indicate that the strong buying and selling phase is going for the altcoin.

Tezos(XTZ)  Price Prediction

The technical indicators and oscillators indicate to buy tezos. It is because of its positive pricing momentum and a huge jump in the ranking of the world’s largest cryptocurrencies list.

The altcoin has a lot of potential from here and can reach its all-time high of $ 4.46 anytime soon. The traders should not be discouraged by ongoing bearish movement and should expect to observe positive momentum on the altcoin again

Pratik Chadhokar

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.