Tezos Price Analysis: XTZ/USD aims for $4-mark as investors win $25M ICO lawsuit
- XTZ/USD is currently sandwiched between SMA 20 and SMA 50 curves.
- Tezos investors won a $25M lawsuit regarding the legal status of the firm’s $25M ICO.
XTZ/USD daily chart
XTZ/USD bulls have stayed in control of the market for the second straight day and the asset is presently trading for $3.45. The buyers will be aiming for the $4-mark as Crypto Michal as previously pointed out.
$XTZ #TEZOS
— Crypto Michaël (@CryptoMichNL) September 1, 2020
Still going as we want it to be going. Expecting a breaker to $4 quite soon. pic.twitter.com/HL0KfkALHL
The Elliott Oscillator has had two straight green sessions, while the William’s %R is trending along in the neutral zone. XTZ/USD faces strong resistance at $3.60 (SMA 20), $3.70 and $4.10. On the downside, we have healthy support at $3.37 (SMA 50), $3.25 and $2.90.
Tezos investors win lawsuit
A long-running lawsuit that suggested that Tezos’ record-breaking $232 million ICO (initial coin offering) was an unregistered securities sale has been officially settled in court. The project’s founders Arthur and Kathleen Breitman agreed to settle the case this Friday.
As per the couple’s representative, the Tezos Foundation paid the entire $25 million settlement amount. Lead plaintiff Trigon Trading claimed that the settlement saved a lot of time for both the parties involved and the court since it mitigated the need for all the subsequent research work that would have been needed to determine the actual regulator status of Tezos’ offerings.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
