InstaForex

August 24, 2021

Tezos (XTZ) Prove High Potential Generates Consistent Surge!

 Tezos, a smart contract this has seen a consistent reputation in the market in recent times.


The August trading session, Tezos produced a 55% jump reaching the latest high of $ 4.47 in today’s trading session.


This consistent surge has been influenced by the 7th Tezos ‘Granada’ upgrade launched in early August.


Tezos 7th Upgrade 'Granada' Is Now Live!


👊🏾Emmy* consensus, cutting block times by 50%


🔥Gas improvements, massively reducing gas consumption in smart contracts


✅Liquidity baking, leveraging governance mechanism and incentives to provide for public goods #Tezos #Granada pic.twitter.com/IL4zJBe9oU


- Tezos (@tezos) August 6, 2021


These new improvements lead to improvements on ‘bug’ issues, liquidity banking, and gas.


Current sentiment about 3 European banks choosing Tezos to lead smart contract support has proved Tezos a high -potential crypto.



Next, look at the current movement chart of the XTZ/USDT price.


When the XTZ analysis article was released last June, Tezos was trading at a price of around $ 2.40.


Still, XTZ has consistently produced a 110% jump so far in today’s trading session.


From a technical point of view, the XTZ price movement is seen to remain in a bullish trend and is testing the resistance zone around $ 4.40.


If the price movement remains with a bullish trend, the resistance level around $ 4.40 will be broken and the possibility of making a higher jump.


However, if the price movement returns to see a bearish trend, the RBS (resistance become support) level around $ 3.8 will be tested first before continuing to decline to lower levels.


At the time of writing, the XTZ is trading at a price of around $ 4.2 up over 11% in the last 24 hours.