"Strategic Consolidation of XTZ/BTC: Accumulation and Potential XTZ/BTC is in a consolidation phase, after a strong upward movement previously recorded, now making ascending lows and descending highs, providing an accumulation for a future breakout upwards. The price is holding on to the support zones identified by the exponential moving averages (EMAs) represented by the colored lines, confirmed by the overbought zone (above 80), however the histogram indicates loss of buying strength. The XTZBTC pair needs volume, which is currently low, to push the price above the current resistances.
o Major Support: 0.00001300 BTC
o Major Resistance: 0.00001419 BTC
The acceptance of the crypto market by governments can benefit Tezos, especially in countries that promote blockchain as a technological infrastructure, as one of TEZOS' focuses is on transparency and compliance, features that can be very attractive to regulators, as in a clearer regulatory environment, smart contract platforms like Tezos can attract more investors and developers, which can result in an increase in its market capitalization and participation in the DeFi ecosystem.
