Tezos (XTZ) Reviews for December 2023

Tezos (XTZ) rebounded off the 50-day SMA ($5.50) on Sept. 29 and the momentum picked up after the bulls pushed the price above the 20-day EMA ($6.40) on Sept. 30. Sustained buying pushed the price above the overhead resistance zone at $8.03 to $8.42. Both moving averages are sloping up and the RSI is near the overbought territory, indicating that bulls are in control. If bulls sustain the price above $8.42, it will suggest the start of a new uptrend. Contrary to this assumption, if bears pull and sustain the price below $8.03, it will suggest profit-booking at higher levels. The XTZ/USDT pair could then drop to the 20-day EMA. The 4-hour chart shows the formation of a symmetrical triangle pattern, which usually acts as a continuation pattern. The bulls pushed the price above the triangle and successfully held the breakout level, indicating the start of an up-move. This setup has a pattern target at $11.33. The rising 20-EMA and the RSI in the overbought zone suggest that bulls have an edge. The first sign of weakness will be a close below $8.03. That could open the doors for a retest of the 20-EMA. A strong rebound off this level will suggest that the sentiment remains positive and traders are buying on dips. Conversely, a break below the 20-EMA could pull the price down to $7 and later to $6.50.

Tezos (XTZ) completed a successful retest of the breakout level at $4.47 on Sept. 7 and Sept. 8. Although bears pulled the price below the 200-day SMA ($4.19), they could not sustain the lower levels. This suggests accumulation on dips. The XTZ/USDT pair picked up momentum on Sep. 9 and bulls pushed the price above the overhead resistance at $6.14 on Sep. 10. The long wick on the candlestick of the past two days indicates strong selling near $7. Hence, this becomes an important resistance for the bulls to cross. If they manage to do that, the pair could retest the all-time high at $8.42. A breakout and close above this level will suggest the start of a new uptrend. Alternatively, if the price once again turns down from the overhead resistance, the pair could drop to $5. Such a move will suggest aggressive profit-booking at higher levels. The 4-hour chart shows the pair is currently consolidating between $5.88 and $6.80. If bulls drive and sustain the price above the overhead resistance zone at $6.80 to $6.95, the pair may rally to $7.72. If the price turns down from $6.80, the pair may extend its range-bound action for some more time. A break and close below $5.88 will be the first sign that bulls are losing their grip. The pair could then drop to the 50-SMA.

On altcoins, a curious picture was developing Friday as investors mysteriously piled in to Tezos (XTZ). After standard moves in line with the majority of major altcoins, XTZ/USD suddenly began to break out, gaining 24% on the day to become the best-performing cryptocurrency. The pair hit $6.53, its highest since mid May. The events coincide with increasing non-fungible token (NFT) interest on Tezos courtesy of music star Doja Cat, and its blockchain handled 400,000 daily transactions for the first time this week.

Tezos (XTZ) completed a rounding-bottom pattern when the price broke and closed above the overhead resistance at $4.47. This suggests the start of a new uptrend that has a pattern target at $6.85. Usually, after the price breaks out of a setup, it retests the breakout level. In this case, the XTZ/USDT pair could drop to $4.47. If bulls flip this level into support, it will suggest the start of a new uptrend. The rising 20-day EMA ($4.25) and the RSI in the overbought zone indicate advantage to buyers. Contrary to this assumption, if the price turns down from the current level and breaks below the 20-day EMA, it will suggest that supply exceeds demand. That could trap several aggressive bulls and result in a decline to the 50-day SMA ($3.31). The four-hour chart shows that the pair picked up momentum after it rose above the $4.47 resistance. Both moving averages are sloping up and the RSI is near the overbought zone, indicating that bulls have the upper hand. The pair could rally to the overhead resistance zone at $6.31 to $6.50, where bears may mount a stiff resistance. The first sign of weakness will be a break and close below the 20-day EMA. That could open the doors for a decline to the breakout level at $4.47.

It became known that France will begin testing the national digital currency on the Tezos blockchain. Bank Societe Generale, selected by the French central bank for the development of a digital payment system, is exploring the possibility of using the XTZ token platform to settle securities using digital currency.

Tezzies just can’t help but to keep mooning. This coin is just a pump on top of a pump. Last week I swore not to buy it and this week its already up 34%! The charts are showing that it should correct, but the news tells a different story. I think Tezos still has a long way to go because their partnerships are really starting to roll out. Great job Tezzie community. I also couldn’t help but mention the fact that Coinbase custody introduced staking to their service is just a teaser of the big things to come for Tezos.

Tezzies are great to stake, but buying at these prices is crazy. We already saw a huge dump, and more to come according to the charts. There’s no real reason to hold XTZ unless you’re staking, and even at that, the rewards are minimal. I’m not trying to FUD the project, but it seems unlikely that XTZ will see another bull market from its unused platform. There isn’t anyone who actually uses it for anything, whether it be companies or individuals. If anyone can point me to a company that’s building their platform on top of Tezos then please enlighten me. Until then, I stand by the fact that XTZ has no intrinsic value.

After almost a month of consolidation, Tezos is finally on the move again, gaining 4% in a day. Sure, that's almost nothing compared to the craziness of 2018, when we saw 15+% trips to the upside in a matter of hours. However, we should get accustomed to the fact that the volatility of cryptocurrencies, including Tezos, should decrease over time. Obviously, that is good for holders but not so much so for speculators. Nevertheless, Tezos is a solid altcoin and I intend to hold it for a while, or until it reaches the $2 benchmark.

Tezos has been unstoppable lately. I knew when I saw XTZ was cleared from the entire settlement dispute it was time to buy. XTZ even has the perfect ticker name. The baking process is already on going and we can easily stake our coins. Tezos is going to be the underdog of 2019, and Everyone is going to wonder why they didn't buy after it already 10x. This is the Cardano of 2017.

As a reply to the comment below: if you have a Trezor you can easily stake your Tezzies SimpleStaking. Since the dilemma of Tezos and the lawsuits seemed to have quieted down, Tezos will more then likely see significant growth this year. Staking is already live and most people don't seem to understand this. Put your Tezzis to work!

I can not understand, is there any desktop wallet for tezos? I want to buy tokens, but where to store them is not clear. On stock exchanges, where the token is traded - I do not trade, so storing there is not an option