Price Pain Predicted for Top Performing Crypto Asset Tezos

Price Pain Predicted for Top Performing Crypto Asset Tezos

$XTZ – Tezos The thing about price discovery is you just don’t know how far an asset can free-fall after big players take profit or if $BTC breaks down There aren’t many supports on higher time frames for Tezos but lower time frames you can find horizontals to show entry points pic.twitter.com/aA2O7otvnS — Josh Rager (@Josh_Rager) February 23, 2020

It Tezos were to dump hard in a market wide altcoin avalanche; there are support levels at the $2.60 level and the $2.15 level according to the chart. He added that he does not hold any XTZ but would consider entry near $2.57 and definitely at $2.17 with anything under $2 being bought up quickly. If Tezos does fall back to such levels it would indicate a correction of over 40% which is not uncommon for altcoins that have made rapid gains in a short space of time. Looking At LINK Another top performing altcoin, Chainlink, is a good example of how far they can correct following massive pumps. After its first price peak in mid-2019, LINK dumped over 60% in the three months that followed. The crypto asset has just made another ATH of $4.75 so it too is due a correction. As usual there is a lot of crypto tribalism involved with Tezos as the community has heralded it as another Ethereum killer. The bottom line is that until one emerges as the standard for the industry, they are all going to be used as vehicles for speculation. Ethereum currently holds that accolade with the largest community of developers and the most dApps, but it is still in a two year bear market, down 80% from its all-time high. Is the same fate about to happen to Tezos? Will XTZ dump back to $2? Add your thoughts and predictions below.

 

source: https://bitcoinist.com/price-pain-predicted-for-top-performing-crypto-asset-tezos/

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