Lorenzo Stroe
Independent Analyst
- Tezos price is currently trying to recover from a major dip to $2.078 on November 26.
- The developers have announced a new upgrade to implement the shielding of transactions.
While Tezos price slowly recovers from the last market crash, its developers have announced a new upgrade named Edo, which intends to add shielding on transactions and a ticket system for smart contracts to issue tokens.
Tezos price needs to crack this critical resistance level
On the 4-hour chart, XTZ has created an ascending wedge pattern and it’s currently trading at $2.47, right below the upper trendline. Bulls have managed to push Tezos price above the 100-SMA, and turn it into a support level.
XTZ/USD 4-hour chart
A breakout above the upper boundary of the pattern at $2.51 would quickly drive Tezos price towards $2.8, a 10% jump. On November 30, the team of Tezos announced several privacy features in the next upgrade, boosting buying pressure.
It seems that Tezos will be getting Zcash’s privacy features like the shielding of transactions and a ticket system mechanism for smart contracts to issue tokens and grant portable permissions to other smart contracts. The announcement also stated:
The “adoption period” (sometimes referred to as the “fifth period”) is an important improvement we have wanted to make to the governance mechanism for some time. Just like any other feature of the protocol, Tezos protocol amendments may make changes to the amendment process itself.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?