Tezos News

How Long is Tezos (XTZ) Going to Continue With its Downslide?

  • Tezos price has not been able to maintain its upward momentum over the past one month due to the ongoing bearish trend in the crypto market

Tezos (XTZ) is an open-source blockchain platform which addresses issues faced by adoption of blockchain technology like smart contract safety, upgradation facilities and open participation. This great feature has however, not led to it being able to sustain its price in the current strong bearish wave engulfing the cryptocurrency market. The past one month has not been good for Tezos like many other coins of the market and has seen a continual downslide with the prices oscillating in a very narrow range of BTC 0.0001.

Latest Statistics:

As on Sep 12, 2019, at 5:31 UTC, the current statistics of the coin are as follows:

  • The current market price of XTZ is 0.00009870 BTC holding a market cap of around $661,098,302
  • 24 h volume is at $8,933,007 with a circulating supply of 660,373,612 XTZ
  • ROI is at a 113.00 %
  • Circulating supply is at 660,373,612 XTZ

XTZ Price Analysis:

The one-month price chart for Tezos shows that the price has been moving in a narrow range and the price has not been able to move beyond $0.0001 BTC. The variations over the past month have been in this price range only. The price of XTZ has been moving in this range with fluctuations to the extent of 10.78% on Aug 15 from the price of Aug 14.  Then on Aug 18, there was a slight rise in the same range though to the extent of 9.10%. From there on Aug 21, the price fell to the extent of 9.05%. It slightly moved up to 3.47% on Aug 30. On Sep 7, the price fell by 13.83%. There was again a rise of 11.83% in the price on Sep 9. Today also the price is in the same range. The bears have not let Tezos price (against BTC) move much in the last one month.

Tezos Price Chart

Tezos had been having its time in the sun during the month of April when its price had reached a high, but it was not long before the bear sentiment set in and turned the tables. Since then the prices have been on a continual downswing with no signs of respite. This has been a harrowing time for the investor community. Analysts are still hopeful based on the future capability of the coin and expect Tezos to bounce back by the year end.

Short-term traders should be strictly cautious in their approach while doing any investing activity due to the volatility being strong in the crypto market.

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