Tezos May Lose another 20.0%
Texos (XTZ) experienced a 1.6% decline this week, falling to $0.980 and still below the uptrend support at $1.000. The token's value plummeted by 27.0% on April 12-13 to levels not seen since January, triggered by escalation in the Middle East conflict. Although geopolitical tensions have since eased, the market has only managed to recover less than half of its weekend losses.
Investors seem surprised by XTZ's unexpected breakthrough below the support level, and their attempts to push prices back up have been unsuccessful over the past three days. If they are unable to restore prices above $1.000 soon, there is a likelihood of a further dive by 20.0% to $0.800.
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