Price Analysis

Tezos (XTZ) Price Analysis: Tezos On The Roll For Past Two Months; Will Reach 6 USD In 2019

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From its all-time low of 0.314631 on December 7, 2018, to its current price, Tezos has seen a rise of 427.60 %.

In this mini bull run of 2019, it could reach 5.97 USD, which is its year high reached on June 2, 2018. It could fetch a return of 259.63 % by the end of this year.

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With an all-time high of 12.19 USD during the bull run of 2017, it is not without reason that it was able to raise 427 % within six months. The following are the fundamental and technical features of Tezos:

Fundamental features favoring Tezos:

  • Tezos is a major player when it comes to smart contracts and dApps
  • The Tezos token has multi-functionality with its protocol built to operate on a self-developing blockchain platform
  • It has significant investments from Chorus Mobility platform, which is even praised by France finance and economy minister Bruno La Maire while attending the meeting of Tezos in Paris. It was also attended by experts, founders, and developers

Technical factors favoring Tezos:

  • More than 427 % rise in 6 months is a rare feat achieved by Tezos
  • 2019 has seen a tremendous year for Tezos, and if the mini bull run continues it is sure to reach high levels

May 27, Price Statistics of  XTZ at 14:04 UTC:

Tezos

Ranking in cryptocurrency list of Coinmarketcap 16
Return of Investment (ROI) 252.24%
Total Circulation 659,485,784 XTZ
Market Cap in USD 1,091,452,650
Current Price in USD 1.66
Current Price in BTC 0.00018984
24 hours traded volume 6,293,084
25 days price change 28.68

XTZ Price movements and predictions:

Tezos opened at 1.55 well below yesterday’s close of 1.67 and near its yesterday’s low of 1.52. From there till the current price is has risen nearly 7.06 % and now trading at yesterday’s high and closing price of 1.67 USD. Today if it cuts the 7 days of 1.71 it could even go to 1.83 which it reached on May 16.

Value comparisons of XTZ:

2018 was a quiet year for Tezos after reaching its all-time low in December. It was range bound between 0.40 to 0.50 up to March 19, and once it cut 0.50 USD, it went straight to the three month high of 1.83 USD. If it cuts 1.83, it could reach even 5.97 USD.

Conclusion:

With strong fundamentals and technical support, Tezos have enough potential as in predictions to reach year high of 5.97 USD. A bull run could enhance the fast acceleration even within the end of 2019.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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