This article was first published on Huobi Group - Medium
Tezos is a self-amending cryptographic ledger. It achieves consensus not just about the state of a ledger, but about the state of its own protocol. Tezos is designed to provide the safety and code correctness required for assets and other high-value use cases. Its native smart contract language, Michelson, facilitates formal verification, a methodology commonly used in mission-critical environments such as the aerospace, nuclear, and semiconductor industries.
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Last week, XTZ swept stops below the Q4 support near $1.7812 before quickly bouncing into support between $1.9943 and $1.8698.
The upward speed of this move back into support shows that buyers are eager to enter, suggesting that more upward movement may be coming.
If the price breaks resistance near $2.2967, just below the monthly open, the equal highs near $2.5565 provide an appealing first target. Bullish continuation through the resistance beginning at $2.6211 would hint that the next target is the swing high near $2.9647.
Beyond this target, the resistance beginning at $3....
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Huobi Group - Medium