Tezos Signals Another 50% Upswing Despite the Recent Massive Run-Up

Tezos Signals Another 50% Upswing Despite the Recent Massive Run-Up

Tezos’ founders, Arthur and Kathleen Breitman, have been in the center of controversy after hinting that they could be stepping away from the project. Arthur’s recent exclusion from the Tezos Technical Advisory Committee and Kathleen’s disinterest in running her upcoming blockchain-game on top of this protocol set off the alerts among XTZ’s supporters. While emotions are still running high within the Tezos community, this cryptocurrency was able to shrug off the so-called “FUD” and recover all the losses incurred during Black Thursday. In fact, XTZ surged by nearly 187% and multiple technical indexes reveal the cryptocurrency could have more gas in its tank.

Traces Left Behind by Tezos’s Recent Retracements

The Tom Demark (TD) Sequential indicator has been extremely accurate at predicting local tops on XTZ’s one-day chart. This technical index was able to anticipate the 18% nosedive that Tezos took on Mar. 27. During that time, it presented a sell signal in the form of a green nine candle that transitioned into a red one candle. Two weeks later, the TD setup presented the same bearish pattern suggesting that Tezos was bound for another retracement. Coincidentally, the selling pressure behind the smart contracts token increased, which helped to push its price down by 16%. Read More...

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