Gains in crypto over the last few months have been absolutely outrageous, but only if you picked the right coins. Unfortunately for XTZ holders, XTZUSD has been objectively the worst performing smart contract platform of 2021, overshadowed by ADA, DOT, and ALGO in the recent surge. However, the fundamentals do not support such a low valuation. The Tezos decentralized exchange DEXTER is live, and the coin has high staking rewards, fast transactions, and low fees. The market cap right now is about $3B, and it could easily push 10x if the crypto climate remains favorable this year. Before I set my sights on $40 targets, let's see what it can do over the next few months. The chart pattern reminds me a lot of the handle that ATOM formed in late January before the runup from $7 to $26. For now, I'm targeting $10 as a high target. It could wick up to $11, but I would be surprised to see it blow through this zone without a pullback or consolidation period. If it can clear above $10 with conviction, then $20 is the next logical target. Let's see what happens!
Trade active
Accumulating as much as I can while it's near $4.0Note
Quipuswap XTZ DEX is live: quipuswap.com/Note
Bender Labs WRAP protocol will launch on April 26: benderlabs.io/Note
This might sound too fatalist given the volatility and uncertainty of crypto markets, but I'm trading XTZ as if this is the last time the price will ever go back to the $4. Contract calls have tripled each month for the last three months, and it has been trading inside of this accumulation range for too many years. My overall strategy among most assets is focused on multi-month swing trading and daily scalping, but this is a buy and hold for me.Note
Time warp back to Q4 2020. Unbelievable. Should have named this post "Tez to $8".
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.