- Tezos price has traded on its Mumbai upgrade, which went live successfully on Wednesday.
- XTZ took a small slide lower in the past few days.
- With traders grasping what the update means for the future of XTZ, expect more inflow with bulls breaking out.
Tezos (XTZ) price is taunting the odds as it unleashed its thirteenth core protocol upgrade this week. The upgrade, dubbed Mumbai, should lift the processing speed to 1 million transactions per second. It should also make it more secure, flexible and developer-friendly, elements that traders will applaud by buying a stake in the altcoin that could spiral up to $1.40.
Tezos price can start cashing in on its protocol upgrade
Tezos price is still caught between two forces from both bullish and bearish sides with the green and red trend lines as barriers. That investors and traders were awaiting the release of the Mumbai upgrade is seen in the rally on Wednesday with a near 10% gain intraday. Unfortunately, too many technical hurdles were coming together on the top side for a substantial rally higher.
XTZ could still see traders welcoming this upgrade as the procession speed kicks it higher. Expect with the positive newsflow that bulls will have bought at $1.10 and push price action through the 55-day and the 200-day Simple Moving Average (SMA). A clean breakout trade can first see $1.20 and next $1.40 on the topside for a staggering 25% gain.
XTZ/USD 4H-chart
Should another rejection occur near $1.15, bulls might flee the scene, however, and look for an easier altcoin to trade. That would translate itself into XTZ allowing a green ascending trend line break. A full swing lower, breaking $1, could test $0.95 in search of support. Bulls would see a red 15% loss in their trading book if they did not cut their positions by then.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ripple faces growing downside risks threatening potential return to $3
Ripple (XRP) price hovers at around $2.31 on Monday, extending its gradual drawdown from last week’s high of $2.65, as the broader cryptocurrency market swings between gains and losses amid shifting investor sentiment.
EOS uptrend falters ahead of token swap despite Vaulta’s DeFi TVL soaring to $246 million
EOS price slides on Monday to approximately $0.75, erasing a minor uptick on Sunday, while extending the drawdown from the May 10 high at around $0.99. The EOS network rebranded to Vaulta in the first quarter, paving the way for a web3 banking platform.
Bitcoin gives up weekend gains, signaling potential bull trap as momentum weakens
Bitcoin dips to around $103,000 on Monday, wiping out Sunday's gains and raising concerns of a short-term correction. Metaplanet adds 1,004 BTC to its treasury, while spot Bitcoin ETFs saw $603.74 million in net inflows last week.
Virtuals Protocol Price Forecast: VIRTUAL set to extend losses as triple top formation emerges
Virtuals Protocol (VIRTUAL) price drops over 10% at the time of writing on Monday, trading around $1.78 following a failed attempt to break above a key resistance level over the weekend.
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.