XTZ Bulls Are Going For More Gains, XTZ Price Sees Recovery

All of the XTZ bulls are going for further gains after the initial crash of 47 percent on March 12. The price of Tezos dropped down to $0.95 but it then saw a huge increase by 85 percent the same day that it lost most of its value. The cryptocurrency is now in a daily equilibrium pattern that favors the bears and the price could increase again soon as we are reading in today’s Tezos news.

The XTZ bulls are facing the daily 12 period EMA which is a resistance level that proves to be hard to crack. The bulls tried a few times in the past to break and close above the level but they were unable to.
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The current equilibrium pattern set a lower high of $1.79 and a new higher low at $1.46. if they manage to break these two levels, the price of Tezos will likely be bigger and with a ton of trading volume with it.

Bitcoin, however, is still in the leading position and could prevent Tezos from seeking a bear break even if the bears become able to manage to surpass the $1.461 level. If the bitcoin bullish performance goes up, this could prevent the bears from continuing their movement. Tezos announced the listing on Poloniex recently and XTZ now has 3 trading pairs including TRX, USDT, and BTC and they are all available on the platform right now. The digital asset had a small bump earlier but was not able to break above the 12-period EMA.

The Tezos Foundation also granted million to the developers divided into three categories including research, development and community support.
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The recent reports also show that the foundation still owns about $635 million in assets. Also, yesterday it was reported that the first game built on Tezos was almost ready for an Alpha launch. The game was created by the co-founder of Tezos Kathleen Breitman and it is called ‘’Emergents.’’ The game is a card collectible game that was built on top of Tezos. The foundation is now working on developing an ecosystem that will be converted into a higher price for the XTZ crypto asset.