Join Our Telegram channel to stay up to date on breaking news coverage
XTZ, the native cryptocurrency of the Tezos blockchain, has surged by an impressive 6% within 24 hours, catching the attention of traders and investors alike.
This remarkable price movement has left many wondering how high XTZ can rise soon. Tezos is a smart contract-based blockchain network, similar to Ethereum in some aspects.
However, it distinguishes itself by providing more advanced infrastructure, allowing for continuous evolution and improvement without the risk of a hard fork.
Tezos Notable Price Moves
Like most cryptocurrencies, the price of Tezos has been dynamic and ever-changing. When initially launched, the coin was valued at 2.94 USD.
On October 4, 2021, it reached its all-time high price of $9.12, driven by a bullish momentum in the market. Since then, the asset has not reached that level after several attempts from the bulls.
However, recent prices have shown signs of bullish momentum, signaling a potential shift in market sentiment. The asset is down by 90% from its all-time high compared to its present price.
Tezos Price Analysis: XTZ Targets $1 Mark After A Bearish Trend
According to Coincodex’s Tezos price prediction, the price of Tezos is predicted to rise by 11.90% and reach $ 0.959056 by July 25, 2023.
According to their technical indicators, the current sentiment is Neutral, while the Fear & Greed Index shows 56 (Greed). Tezos recorded 18/30 (60%) green days with 4.47% price volatility over the last 30 days.
Since February 23, XTZ/USDT has remained on a consistent bearish trendline, with its price steadily declining.
However, the coin has formed a new trend in recent price action. The chart indicates that the price has tested the bullish trendline severally and is heading toward its key resistance level.
This shift in trajectory offers hope for potential price recovery, and market participants closely monitor the coin’s movements to ascertain its future direction. Additionally, if the price breaks the key resistance level above the $1 mark, it will likely indicate a long-term bullish trend.
Nonetheless, should the price break below the bullish trendline, it could signal a bearish momentum, leading to a subsequent price decline.
As shown in the chart, the coin trades above the middle band of the Bollinger Bands indicator, heading toward the upper band. This suggests the coin is experiencing relatively high bullish pressure, signaling a potential buy opportunity for traders and investors.
Additionally, the asset’s Moving Average Convergence Divergence (MACD) is trading above the signal line, and the histogram bars are coming up. This confirms the bullish sentiment present in the XTZ/USDT market.
Although, the Relative Strength Index (RSI) is sitting at 56, which is considered to be a neutral zone. Generally, the technical indicators suggest that the price will likely witness a bullish zone but in a slow pressure.
Expert’s Price Prediction on Tezos Token ($XTZ)
According to Wallet Investor’s projections, Tezo’s price is expected to experience a significant decline in the upcoming period, potentially driven by reduced interest and demand from prominent investors and industry leaders.
By the end of 2027, the XTZ token could achieve an average trading price of $0.096, with a potential high of $0.048 and a minimum value of $0.144.
According to the DigitalCoinPrice.com prediction, the Tezos token (XTZ) price shows positive price movement by the year-end.
The XTZ price is predicted to surpass $1.99 in 2024 and reach a minimum price of $1.84 by the end of the year. Additionally, it can increase to a maximum of $2.07.
According to the website, XTZ will cost more than $16.34 by the end of 2032 and at least reach $16.26. Additionally, the price of XTZ can rise as high as $16.53.
Recent Development Within the Ecosystem
The new integration with the Tezos blockchain is expected to positively impact the price of Tezos coin ($XTZ).
Team Finance’s comprehensive toolkit allows tokenized platforms to launch and manage easily across multiple blockchains, including Tezos.
This integration opens up exciting opportunities for developers and projects to build and deploy tokenized solutions on the Tezos network, potentially increasing the platform’s adoption and usage.
As more projects and tokens are created on Tezos, it could drive greater demand for $XTZ, leading to potential price appreciation due to increased utility and interest in the blockchain.
Additionally, the introduction of Etherlink, a fully decentralized, EVM-compatible Layer 2 (L2) solution on Tezos, has the potential to impact the price of Tezos XTZ positively.
This innovative solution enhances the Tezos ecosystem by providing developers and businesses a platform to build secure and scalable applications.
As more developers and businesses adopt and utilize Etherlink on Tezos, it could increase demand for XTZ tokens to access and power these applications.
Additionally, integrating Etherlink may enhance Tezos’ reputation as a versatile and developer-friendly blockchain, attracting more interest and investment and potentially driving up the price of XTZ in the long term.
Thug Life Hits The Market – Potential 100X Gem?
Analysts are praising $THUG as one of the leading investment prospects for 2023 within the category of “shitcoins.”
The token debuted on July 17 at 12:00 EST and will subsequently be available for trading on major Ethereum-based decentralized exchanges (DEXs).
Those who took part in the presale can now claim their tokens, offering them the chance to be part of early adopters in this promising venture.
Thug Life Token’s presale wrapped up during the weekend, securing over $2 million in less than two weeks, indicating robust ongoing interest as the token approaches its official launch.
Traders who haven’t obtained $THUG might want to move quickly once the token hits the market, as the fear of missing out (FOMO) and pent-up demand could rapidly drive its price beyond the presale level.
Thug Life Token revolves around the iconic Thug Life movement popularized by hip-hop artists like Snoop Dogg in the 1990s.
Described as the “baller’s meme coin” on its website, $THUG encourages users to embrace the market with a gangster mindset and elevate their financial prowess.
Analysts Predict 100X Returns for $THUG
Thug Life’s official website states that the project aims to help its community transform past losses into future profits by leveraging untapped potential in the meme coin market.
The project’s playful essence, unique inspirations, and well-designed tokenomics have prompted some analysts to forecast potential returns of up to 100 times the initial investment.
Significantly, influential YouTubers like Michael Wrubel, with 300K followers, and Crypto Gem, with 67K followers, have produced videos foreseeing substantial growth of 100 times for the $THUG token.
However, the chance for investors to get involved at a price of only $0.0007 is diminishing, as the presale is scheduled to end in less than 48 hours.
Afterward, acquiring the Thug Life token will be feasible solely through decentralized exchanges (DEXs), Thug Life airdrops, and giveaways.
Marketing Experts Now On Thug Life
Thug Life Token has gained significant traction in the web3 community, largely attributed to its team’s involvement in the successful creation of Sponge.
Crypto enthusiasts may remember that $SPONGE achieved impressive returns nearly 100 times its initial DEX launch and attained a peak market capitalization of around $50 million.
The Thug Life Token team is determined to replicate or even surpass the achievements of $SPONGE, actively collaborating with reputable crypto news platforms such as Be[In]Crypto, CryptoPotato, and Finbold. Additionally, influential figures in the crypto space, including Crypto Gains, are actively endorsing the project.
Thug Life Token effectively utilizes social media, with over 4,800 Twitter followers and meme tweets consistently receiving over 500 likes.
Moreover, their Telegram channel has gathered over 2,600 subscribers. Building a devoted and engaged community that aligns with the token’s theme and vision is crucial for meme coin’s success.
Considering the significant attention Thug Life Token is already receiving, it is unlikely that $THUG will remain at a market cap of $3 million for an extended period.
Investors can now purchase Thug Life on Uniswap following its launch at 18:00 CET on July 17. Using official links to Uniswap or DEXTools provided by the project administrators is essential, as fake tokens may pose risks.
Exercise caution and rely only on authentic sources to avoid potential scams.
Related
- How to Buy Bitcoin Safely Online
- Man Who Claims he’s Bitcoin Inventor Satoshi Nakamoto Wins Appeal in UK Copyright Lawsuit
Smog (SMOG) - Meme Coin With Rewards
Join Our Telegram channel to stay up to date on breaking news coverage
Staking
Bitcoin
Gaming
Best Coins
Buy NFTs