Tezos price aims for a nice rebound after establishing a local bottom at $4.3. The digital asset had a healthy consolidation period from a high of $5.64 down to $3.83, after a massive 115% rally.

Bitcoin’s market bulls have halted their surge upwards, but the altcoin market is continuing to register a staggering appreciation in value and price. Tezos [XTZ], ranked 20th on CoinMarketCap’s list due to a market cap of $1.73 billion, is one of the many altcoins to share this appreciation.

Tezos (XTZ) was one of the rare cryptocurrencies to recover completely from the recent crypto market downtrend. Its price, however, did not only recover, but managed to surge 20% and contest the $3 level in a matter of hours.

Tezos (XTZ) has rallied considerably since March 2020 but has largely traded sideways since its August high. Is it time for another breakout?

XTZ/USD gave a triangle breakout on January 6, 2020, after consolidating for a week. Currently, it seems that the coin is returning to retest the support line. The bulls came in action from $2.00 levels but took the breather at $2.667 levels(the upside of 33%). If the coin sustains the level, it might smash the resistance of $2.68 and head for the next resistance of $3.00. The 24 hour volume and market cap are $140,310,711 USD and $1,851,640,813 USD.

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There are many reasons to keep a close eye on the different altcoins available today. Quite a few of them have ample momentum building behind the scenes. Since its release, Tezos has been a strong contender, but what makes it so appealing?

Tezos has recovered considerably and consistently from the dip on February 21. Initially, the 200 Simple Moving Average (SMA) hindered price movement in conjunction with the seller congestion at $4. However, XTZ has broken above a key technical pattern and is looking toward a massive move heading to $5.

Tezos XTZ, 2.49% witnessed a week of falling prices as the coin drops by a total of around 7% to reach the current $2.64 trading level. The cryptocurrency had surged during April 2020 when it climbed from $1.50 to reach as high as $3.00.

Tezos has recently been elevated to a new all-time high of $5.6. The significant milestone came after a persistent push from the bulls over the last couple of weeks. However, widespread selling pressure in the cryptocurrency market cut short the rally.

Tezos (XTZ) is a blockchain-based cryptocurrency and smart contracts platform for decentralized applications (dApps). Since its launch in 2018, it has made a considerable amount of buzz within the crypto community.

Reportedly, technical charts are showing a strong increase in Tezos on-Chain activity. The smart contracts interactions are more than 10 times since July. The Delphi upgrade in Nov. improved the performance of the Michelson interpreter and improved the gas model, decreasing gas consumption by ~75%.

After news spread about the hacking that occurred to Ethereum, cryptocurrency miners felt a great need for obtaining secure smart contracts.

On the daily chart for XTZ/USD, the 50-day and 200-day Exponential Moving Average bullishly crossed in January, leading price to new all-time highs.

The cryptocurrency market has been forming crests and troughs along the way. As the value of Bitcoin has been dropping from $42k and this trend has been followed by the altcoin markets too. The value of Tezos has been moving like a wave too, witnessing momentary highs and lows.

The Bitcoin market has traded between $ 40k and $ 42k over the past two days. This hints at the possible start of digital asset consolidation. Which also led altcoins like Tezos to witness a change in trend. Tezos [XTZ], a popular mid-cap crypto, has climbed higher on the price ladder, but its future movements are unclear.

Bitcoin’s market bulls have halted their surge upwards, but the altcoin market is continuing to register a staggering appreciation in value and price. Tezos [XTZ], ranked 20th on CoinMarketCap’s list due to a market cap of $1.73 billion, is one of the many altcoins to share this appreciation.

Tezos (XTZ) appears to be leading the recovery in the cryptocurrency market after a team of developers announced that users will soon be able to create DAOs on the blockchain.

Tezos has recovered consistently from Decembers’ dip that saw it revisit $1.6. The uptrend has been taking place within the confines of an ascending parallel channel. A massive breakout is anticipated in the near term, likely to boost XTZ to its all-time highs.